School is out for the summer—but many MBA students have no vacation in sight. Summer internships are so common among these students that not having one is a rarity at many business schools. Poets & Quants explored the internship statistics at top-ranked schools and reported that more than 99% of the Class of 2016 at the University of Virginia’s Darden School of Business had received internship offers. While internship employment rates are high, salaries are quite notable as well. According to the article, interns at the University of Chicago’s Booth School of Business had the highest median base salaries in the United States last year at $8,200 per month. Interestingly, the single highest-earning intern in the country was a Columbia Business School student who brought home more than $22,000 per month. Of the 25 business schools reviewed by Poets & Quants, the lowest median monthly pay totaled approximately $3,000 and was earned by students from INSEAD, which has campuses in France, Singapore, and Abu Dhabi.
Of course, internship industries vary just as post-MBA career choices do. One trend worth nothing, however, is technology: at Harvard Business School, for example, the proportion of tech internships has risen from 9% of the Class of 2011 to 21% of the Class of 2015. Many schools reported a similar trend—Darden’s assistant dean for career development noted to Poets & Quants that the percentage of the school’s interns working at tech firms has doubled in the past five years. Whether this summer’s interns will gravitate toward tech remains to be seen, but one could assume that in any case, they will be compensated handsomely.