Silicon Valley is offering astronomical salaries and benefits packages to woo young, talented interns. At Facebook, for example, the median monthly pay is $8,000, or $96,000 annually — nearly double the average annual base salary for the US worker.
When Madeline Wolf began researching internships, she was enamored by all of the positive student testimonials she was reading about cloud computing company ServiceNow. Headquartered in Santa Clara, California, in the heart of Silicon Valley, the company offers interns a competitive wage, high level of professional development, health benefits and a bevy of perks, like a company laptop, free breakfast twice a week and participation in company outings.
Today all bets are off when it comes to recruiting Gen Zers, and nowhere is the frenzy so pronounced as in Silicon Valley, where tech companies are offering astronomical salaries and benefits packages to woo young interns. At Facebook, for example, the median monthly pay for interns is $8,000, or $96,000 annually, according to Glassdoor. That's nearly double the average annual base salary for the American worker, which is $52,943, reveals Local Pay Reports.
But recruiting them is not easy, HR experts say. In fact, According to career site WayUp, some of the best internships are being offered by companies that students might overlook. They want to work for employers who incorporate elements they value, like diversity, a collegial work environment with a cool culture, mentorship, the chance to work on meaningful projects and a path to a great job after graduation.
To get ahead of the curve, Edwards Lifesciences is offering internships to STEM majors earlier — after their freshman and sophomore year."Interns will come back multiple times to intern over their college career," and each summer, they are provided different types of experiences, Freaney said. The hope is that they'll then become more attached to the company and accept full-time roles upon graduation.
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