After years and years of stagnating starting salaries, firms finally got the memo and buffed the numbers in intern offers. Good. Took them long enough.
Prepare to weep, oldtimers:
Intern offers creeping up on $100k? Never thought I’d see the day. No wonder EY is changing up how internships work and implementing an 8-12 month residency rather than the traditional 8-week grind, they want to get their money’s worth.
As we’ve discussed before, it is no longer a fact that interns are basically guaranteed an offer unless they screw up in a significant way. Firms are trimming their intern classes and lowering their graduate hiring targets but at least they’re being generous to those who do receive an offer.
These larger starting salaries are starting to have an effect down the road as jumps to industry aren’t always the huge bump they used to be now but we can talk about that another day.
Is the profession headed in the right direction? Any other unintended consequences of fat intern offers you’d like to discuss? Have at it.
