According to recent rankings of the top 50 employers by career site Glassdoor, Facebook is the best company in the world to work for. After looking at the lowest salaries at each company, it is easy to see why Facebook takes the top spot.

Interns Earn How Much?
According to the stats, Facebook is paying the average intern approximately $5,600 a month. This adds up to just over $67,000 per year, which ranks above what the average American is earning. According to Social Security, The Official Website of U.S. Social Security Administration, in 2011 the average individual's earnings were $42,979 per year, which was 3.1% higher than in 2010. This means that Facebook interns are making approximately $25,000 more than the average American. This is especially interesting considering that some interns, such as the ones at fashion magazines, typically are not paid anything.

Not only do Facebook interns earn a better starting salary than the average American, some are also given a $1,000 housing stipend to relocate to the Silicon Valley.

Why so Lucrative?
So how do these interns earn such large sums of money? For starters, most are in the software engineering field. The average software engineer at Facebook makes about $100,000 per year. Conversely, the average software engineer at other U.S. companies makes $93,000 per year. This means that Facebook's software engineers are earning an average of $7,000 more per year. Fast-paced, high-growth companies want to get their hands on emerging talent, which is why they'll pay top dollar for interns and entry-level staff.

What makes these software engineers so valuable is their ability to quickly adapt, read code, debug online technology and design software. All of these traits along with their ability to adapt to ever-changing technology makes computer science graduates valuable to companies.

Other Highly Paid Interns
While Facebook tops the list of the best companies to work for, many other leading technology companies are also on the list and offer similar salaries for their interns. Google pays its interns about $6,400 a month, while Amazon pays about $5,500 per month. If salary is a big motivator for you, software engineering is a good profession to pursue. When you compare software engineers to other business positions, you will see that the former are often paid better than the latter. The accounting profession is often comparable but not quite as highly paid. Tax interns at large accounting firms can make just over $4,000 a month, while audit interns earn about $3,800 and business analyst interns typically earn about $2,700 a month.

The Bottom Line
Many undergraduates are unsure what degree would be best for them to pursue. By considering the current and future pay scales of various prospective careers, students may lean toward a degree that'll prepare them for a career that pays more. If you are thinking of pursuing a software engineering degree, one of the larger technology companies is definitely an avenue to consider for an internship or job as a new graduate.

Related Articles
  1. Mutual Funds & ETFs

    7 Best ETF Trading Strategies for Beginners

    Exchange-traded funds are ideal instruments for beginning traders and investors. Learn the seven best strategies for trading ETFs.
  2. Investing News

    Equity Crowdfunding Sites Disrupt Banking and VC

    Equity crowdfunding is poised to revolutionize the way companies are funded and disrupt the traditional private equity, banking and venture capital industries.
  3. Investing

    5 Signs It's Time to Dump Your ETF

    You’ve bought into your favorite ETF, and it's been a great ride. When should you exit? Here are the top signals to exit an ETF position.
  4. Savings

    Do Natural Gas Prices Always Follow Oil Trends?

    Prices for oil and natural gas are highly correlated. But investors should be aware of different factors affecting the prices of these commodities.
  5. Charts & Patterns

    Understand How Square Works before the IPO

    Square is reported to have filed for an IPO. For interested investors wondering how the company makes money, Investopedia takes a look at its business.
  6. Trading Strategies

    The Top Spread-Betting Strategies

    What are the most commonly followed spread-betting strategies (in countries where it's legal)?
  7. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  8. Investing News

    Is Quinoa Unhealthy for Bolivia's Economy?

    Is one of the world’s healthiest superfoods terribly unhealthy for its country's economy?
  9. Investing

    Top Cities Where Airbnb Is Legal Or Illegal

    Thinking of subletting your apartment on Airbnb? Make sure that you meet your city's regulations first.
  10. Markets

    Why Gluten Free Is Now Big Business

    Is it essential to preserving your health, or just another diet fad? Either way, gluten-free foods have become big business.
RELATED TERMS
  1. Record Date

    The cut-off date established by a company in order to determine ...
  2. Supply

    A fundamental economic concept that describes the total amount ...
  3. Purchasing Power

    The value of a currency expressed in terms of the amount of goods ...
  4. Investment Banker

    Someone working at an institution raising capital for companies, ...
  5. Yield To Maturity (YTM)

    The total return anticipated on a bond if the bond is held until ...
  6. Gross Profit

    A company's total revenue (equivalent to total sales) minus the ...
RELATED FAQS
  1. Are stocks real assets?

    Stocks are financial assets, not real assets. Financial assets are paper assets that can be easily converted to cash. Real ... Read Full Answer >>
  2. Why would someone change their Social Security number?

    In general, the Social Security Administration, or SSA, does not encourage citizens to change their Social Security numbers, ... Read Full Answer >>
  3. Are spousal Social Security benefits taxable?

    Your spousal Social Security benefits may be taxable, depending on your total household income for the year. About one-third ... Read Full Answer >>
  4. What are the best ways to sell an annuity?

    The best ways to sell an annuity are to locate buyers from insurance agents or companies that specialize in connecting buyers ... Read Full Answer >>
  5. How are non-qualified variable annuities taxed?

    Non-qualified variable annuities are tax-deferred investment vehicles with a unique tax structure. After-tax money is deposited ... Read Full Answer >>
  6. Are spousal Social Security benefits retroactive?

    Spousal Social Security benefits are retroactive. These benefits are quite complicated, and anyone in this type of situation ... Read Full Answer >>

You May Also Like

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!