Employers reported paying interns at the undergraduate level an average of $15.44 an hour, while they said they pay undergraduate co-op students an average of $15.64 an hour. "Typically, employers consider more than one factor when determining the salary for an intern or co-op student, but the biggest factor is the student's year of study," says Camille Luckenbaugh, NACE research director. "At the undergraduate level, salaries tend to be highest for seniors, lowest for freshmen." In addition, internships and co-op assignments give students an edge in the job market by providing them with work experience.
"When employers are looking at job candidates, work experience is one of the things they look for," explains Luckenbaugh. "Employers told us that three out of five of their new college hires in 2004 had internship experience and nearly one-third had participated in a co-op assignment."
About NACE: Since 1956, the National Association of Colleges and Employers (NACE) has been the leading source of information about the college job market. NACE maintains a virtual press room for the media at http://www.naceweb.org/press/.