Entry Level Salary for Interns
If you are a college student looking to gain some work experience, then taking an internship is probably your best option. Some interns don't mind working without pay because they are more interested in learning about their chosen field. Being an intern for CollegeRecruiter.com gave me much needed work experience for my resume, which was all I wanted; the experience led to my first job as a staff writer with the organization.
Employers who want to offer compensation to college students for an internship opportunity can use an easy formula to determine pay. That is, taking the entry level salary of a similar job they have and multiply it by a certain percentage. This percentage is based on the education and experience of the intern. It seems as though the closer you are to graduating, the more money you can make. College sophomores start at 60% of the comparable entry level salary, juniors at 70%, and seniors at 80%.
Employers need to remember that hiring unpaid interns is fine as long as the experience primarily benefits the student and not the employer; in other words, there is no talk about an entry level salary between the two parties.
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