University jobs are back: here are the best paid internships

College students looking for summer concerts are amazing.

The Covid pandemic, of course, hit this group especially hard. Last summer, the unemployment rate for 16- to 24-year-olds was 18.5%, about double that of the previous year.

Approximately 47% of young people worked in July 2020, up from 56% the previous year, according to data from the Bureau of Labor Statistics. (July is usually the peak time for youth employment.)

At the same time, internship opportunities (paid or unpaid) dried up almost completely.

“Last year presented unique challenges for college students and recent graduates trying to gain valuable internship experience, with many employers making the difficult decision to stop hiring or even cut internships,” he said. Amanda Stansell, economic data scientist for the Glassdoor workplace.

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“Fortunately, the job market is experiencing signs of recovery, presenting opportunities for workers early in their careers, not only to find internships in top-tier companies but also to earn a strong salary,” he added.

For college students looking for paid internships, there are more companies actively recruiting, according to a new Glassdoor report.

Technology companies, in particular, use internships as a conduit to hire and that means offering highly competitive salaries, Stansell said. “It’s a great way for companies to attract talent and build their talent channel.”

The inmates get the most out of chip maker Nvidia, followed by Facebook and LinkedIn, where the average monthly pay is more than $ 8,000, according to Glassdoor. If these salaries were paid full-time, inmates would bring home about $ 100,000 a year, well above the average U.S. salary.

Glassdoor’s report on best paid practices for 2021 is based on salary reviews reported by inmates between March 1, 2020 and February 28, 2021.

“One of the silver lines is that many of these practices are still completely remote, which opens up the playing field for students across the country,” Stansell said.

While getting one of these opportunities is incredibly competitive, there are also many more internships available at other companies and, in general, a growing number of summer jobs.

“We anticipate an increase in summer job opportunities for teens,” including reliable gigs at retail stores and restaurants, said Vicki Salemi, a career expert at Monster.com.

Even if vacancies are not yet available in the summer, more jobs will be posted as companies reopen and employers assess their needs, he said.

“It’s important to keep your eyes and ears open, if you haven’t landed yet, it doesn’t mean you don’t go.”

In general, however, teens are less likely to look for work, according to a study by the Hamilton Project and the Brookings Institution.

This is due in part to the fact that there are more summer academic programs available and there are more teens completing service to the community as part of graduation requirements or to reinforce college applications, in addition to there are more students doing unpaid internships, which the BLS does not count on, according to an analysis section of the Pew Research Center.

The proportion of adolescents participating in the workforce peaked 40 years ago and has declined since then.

In 1979, nearly 60% of American teens worked, the all-time high. Today, just over a third, or 35%, of teens between the ages of 16 and 19 are part of the workforce.

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