Interns on the rise with a better chance at top jobs, more opportunities and higher salaries

young-intern-listening-to-her-employer
Image provided by Shutterstock

Internships are on the rise and are offering young employees an attractive route into some of the UK’s top jobs.

According to a new survey, released by the Association of Graduate Recruiters (AGR), nearly three quarters of graduate employers hired interns this year. Over 9,000 internships were on offer, which is a 13 per cent year on year increase in intern vacancies.

The survey also found that by entering an internship, 45 per cent went on to secure graduate jobs in the same company. One in ten employers convert more than 83 per cent of their interns into graduate hires.

Graduates are using internships to find a way into some of the UK’s top roles and to get a chance at gaining a higher salary. Internships of those surveyed were typically two to three months long and paid.

Intern salaries were found to be increasing at a faster rate than graduate salaries. This year, the median wage for an intern was £330 a week, which translates to over £17,000 a year. This is an increase of four per cent, compared to just a two per cent increase for graduate programmes.

Banks, engineering and accountancy firms are hiring the largest volumes of interns. Banks are also paying them the second highest salary of £21,000 pro rata, next to investment banking which pays £30,000. The lowest wages for interns are within the energy, water or utilities sector at around £16,000.

Stephen Isherwood, chief executive at the Association of Graduate Recruiters said: “Organisations are broadening their talent pool by making their graduate jobs more accessible, engaging students earlier and increasing the share of graduates who were previous interns.

“If you need a job, get work experience. As well as a solid introduction to working life, you will develop skills that will make you more employable. Employers value internships in particular as they get a chance to see what you bring to the organisation. Make a good impression and you’re very likely to be offered a job at the end of it.

“Many employers have recognised the benefits interns bring, so invest and place a lot of value on them. However, while the image of internships is changing, coming a long way from its tea-making roots, this isn’t representative of all businesses. Make sure you get the right opportunity for you and have a clear idea of what you want to get out of it. Remember that internships are work, so you should receive at least the minimum wage.”

According to the survey, employers have been making it easier to get into roles. Graduate programmes are becoming more accessible with a reduced minimum academic criteria. Employers are also targeting younger students with the number of higher apprenticeship programmes and school leaver programmes doubling in the last four years.

Internships are on the rise and are offering young employees an attractive route into some of the UK’s top jobs.

According to a new survey, released by the Association of Graduate Recruiters (AGR), nearly three quarters of graduate employers hired interns this year. Over 9,000 internships were on offer, which is a 13 per cent year on year increase in intern vacancies.

The survey also found that by entering an internship, 45 per cent went on to secure graduate jobs in the same company. One in ten employers convert more than 83 per cent of their interns into graduate hires.

Graduates are using internships to find a way into some of the UK’s top roles and to get a chance at gaining a higher salary. Internships of those surveyed were typically two to three months long and paid.

Intern salaries were found to be increasing at a faster rate than graduate salaries. This year, the median wage for an intern was £330 a week, which translates to over £17,000 a year. This is an increase of four per cent, compared to just a two per cent increase for graduate programmes.

Banks, engineering and accountancy firms are hiring the largest volumes of interns. Banks are also paying them the second highest salary of £21,000 pro rata, next to investment banking which pays £30,000. The lowest wages for interns are within the energy, water or utilities sector at around £16,000.

Stephen Isherwood, chief executive at the Association of Graduate Recruiters said: “Organisations are broadening their talent pool by making their graduate jobs more accessible, engaging students earlier and increasing the share of graduates who were previous interns.

“If you need a job, get work experience. As well as a solid introduction to working life, you will develop skills that will make you more employable. Employers value internships in particular as they get a chance to see what you bring to the organisation. Make a good impression and you’re very likely to be offered a job at the end of it.

“Many employers have recognised the benefits interns bring, so invest and place a lot of value on them. However, while the image of internships is changing, coming a long way from its tea-making roots, this isn’t representative of all businesses. Make sure you get the right opportunity for you and have a clear idea of what you want to get out of it. Remember that internships are work, so you should receive at least the minimum wage.”

According to the survey, employers have been making it easier to get into roles. Graduate programmes are becoming more accessible with a reduced minimum academic criteria. Employers are also targeting younger students with the number of higher apprenticeship programmes and school leaver programmes doubling in the last four years.

About the author

Alison is the Digital Content Editor for WeAreTheCity. She has a BA Honours degree in Journalism and History from the University of Portsmouth. She has previously worked in the marketing sector and in a copywriting role. Alison’s other passions and hobbies include writing, blogging and travelling.
TechWomen100 Awards 2024 Nominations open

Upcoming Events

June

14jun09:3016:00Personal Impact and Career Confidence (women only)

18jun09:3015:30Women in Leadership Conference | 18 June 24 | Science Gallery

19jun15:0017:00Virtual Class | Breastfeeding and Returning to Work Class

20junAll Day25The MoonWalk Iceland 2024

22junAll DayPRIDE PARTY presented by KIKI

22jun20:0023:30Pride Edinburgh Official After Party | Virgin Hotels Edinburgh

26jun10:0011:00How can school leaders support Menstrual Health and Menopause at work? | Online

27jun08:4518:00The Brilliance Summit

29jun09:0018:30Pride in London Parade with RICS

29jun10:0016:00Pride in London - Outvertising Walking Group

29jun10:3012:00Yoga for Acceptance - an Event for Pride

30jun19:0022:00PRIDE BINGO

Job Board Banner

Related Posts