The National Association of Colleges and Employers (NACE) has released a study that says while internship hiring will be cut by 21 percent this year, employers plan to increase undergraduate-level internship salaries by 4.9 percent.
In their 2009 Experiential Education Survey, NACE found that employers will now be offering an average hourly wage of $17.13, compared to the average of $16.33 they offered to 2007-2008 interns. Furthermore, cutbacks appear to be more prevalent at the master’s level with employers reporting a 7.1 percent decrease in this year’s average salary ($23.18) compared with last year’s ($24.95).
Undergraduate co-op salaries are on the rise and master level co-op salaries are on the decline. At the undergraduate level, the average hourly co-op salary reported was $17.69, a 7.9 percent increase over last year’s average of $16.39. The decrease at the master’s level wasn’t as sharp as it was with interns with the current average of $23.85 per hour representing a decrease of 2.9 percent over last year.
This year, 92.6 percent of survey respondents plan to hire students for internship and/or co-op positions, a slight drop from the 94.9 percent who had similar hiring plans during the 2007-08 academic year.
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