The best paid summer interns? Not investment bankers
Who are the best paid interns in finance?
Well, it’s mostly who you would imagine. Courtesy of data from ShortSqueez, it’s not actually investment bankers, consultants, or private equity people who get paid the most (consultants are actually paid some of the lowest in the industry).
Instead, it's hedge fund interns who take home the biggest paychecks. For a ten-week internship, ShortSqueez estimated that the average intern would take home $35k. That may understate the reality. Our own research shows that hedge funds pay anywhere up to $25k per month – although that’s very much an upper bound, and not an average.
Tech internships are the second best paid – and again, if you’ve been following our own research, that’s hardly a surprise. In New York, a bank technology intern can make up to $150k (annualized – the actual number would be closer to $29k for the duration of the internship).
The chart below shows average (median) compensation for a ten-week internship in a variety of different industries, for college/university students in their junior (penultimate) year.
Internship application season is in full swing across most of the world, by the way. If you’re a young student who’s salivating at the numbers above, stay informed – we have a (mostly) complete list of open internships in the industry available here. And sign up to our dedicated student newsletter, too.
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