It turns out that interning for a tech firm in Silicon Valley can prove quite lucrative.
According to Bloomberg, summer interns at some of Silicon Valley’s biggest tech firms will pull down an average of $6,800 a month, which comes to $81,600 a year. That data came from researcher Rodney Folz, a hacker and Berkeley student.
Folz used data from 503 survey respondents to build a graph of 18 tech companies. Pinterest came in first on the list with a $9,000 median monthly base salary, while Tesla came in last at $4,500 per month. Uber, Yelp, Google, Twitter, and other large firms all placed somewhere between $6,000 and $8,000.
Nor is this a new trend; a few years back, Bloomberg reported on tech firms paying out thousands of dollars per month for interns—provided the latter had the right mix of skills and aptitude.
Of course, landing a lucrative internship at a prominent tech company is much easier said than done. If you’re interested in snagging one, you need to do your homework. Many firms post their internships online, along with full-time job postings. If you’re in school, you can also visit a career fair.
In addition to famous companies like Facebook and Snapchat, hundreds of smaller tech firms offer summer internships. They might not pay thousands of dollars a month, but they’ll allow you to make industry contacts, build up your skill-set, and earn some cash.
Just remember that all internships aren’t created equal. While some companies will let you work with code, help build products, and collaborate with experienced tech pros, others may stick you with administrative tasks that won’t help you build your knowledge or skills. If you want to avoid the latter, make sure to ask very specific questions about the internship’s day-to-day tasks and responsibilities.