Are you considering an internship in London but wondering how much you can expect to earn? The good news is that internships in London can be a great way to gain valuable work experience while earning some money on the side. However, the amount you can expect to earn will vary depending on several factors.
Factors that Determine Internship Pay
Industry: The industry in which you are interning plays a significant role in determining your pay. For example, finance and consulting internships typically pay more than internships in the non-profit sector.
Company size: The size of the company also affects pay. Large companies tend to offer higher salaries than small businesses or startups.
Location: The location of the company is another crucial factor. Interns working in central London will earn more than those working outside of the city center.
Average Pay for Interns in London
According to Glassdoor, the average salary for an intern in London is £20,000 per year. However, this figure varies widely depending on industry and company size. Finance and consulting interns can expect to earn between £25,000-£30,000 per year, while interns in non-profits may only make around £16,000 per year.
Tips for Maximizing Your Internship Pay
- Negotiate: Don’t be afraid to negotiate your salary during the interview process. If you have relevant skills and experience, it’s worth asking for a higher salary.
- Research: Do some research on what other interns are earning in your industry and company size. This will give you a good idea of what to expect.
- Take on Extra Responsibilities: If you’re looking to boost your earnings, consider taking on additional responsibilities or projects that may result in a higher salary.
Conclusion
Overall, interns in London can expect to earn an average salary of £20,000 per year, but this figure varies widely depending on industry and company size. With some research and negotiation skills, you can increase your chances of earning a higher salary during your internship.
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