how much do internships pay in uk
Top Internship Salaries
- The average pay for an internship in the UK is around £251 per week, according to Graduate Fog.
- The highest paid internships in the UK are reportedly at Barclays Bank, which offers a whopping £5,500 per month.
- While some companies pay exceptionally well, it’s important to note that these are rare cases. In fact, many internships offer no pay at all: the average unpaid internship lasts just under six weeks (34 days).
- The lowest paid internships in London reportedly offer £50 per week. However, those working in Manchester could earn up to 30 percent less than their counterparts in London.
When applying for business internships, you’ll probably be asked to write a cover letter and submit your CV. Your cover letter should explain why you’re applying for the internship and demonstrate that you have the required skills. You may also be asked to submit a supporting statement, where you can give details of your education, work experience and interests outside of university.
Business internships are popular among students who have studied related subjects such as economics or finance at university. The roles are varied and can include:
- financial analysis
- writing reports or press releases
- research into markets or customer trends
- helping with marketing campaigns
You could find yourself working in most sectors including retail, fashion, FMCG (fast-moving consumer goods), engineering and manufacturing.
Internships in engineering are among the most lucrative in the UK, with high salaries matched by a large supply of opportunities. The average salary for engineering internships is £23,000, with the highest paid position paying £32,000. The lowest paying role pays £13,000.
The majority of engineering internships are based in London, with a number of positions also located in Manchester and Birmingham. Notable companies that advertise these roles include Rolls Royce and Airbus.
Medical internships are great opportunities to get paid.
Medical internships are in demand and make a great addition to any CV.
Medical internships offer the chance for you to earn money while gaining experience.
Medical internships run for 12 months and you can gain valuable skills during your internship that will help you achieve your career goals.
Legal & Finance Internships
Legal & Finance Internships
If you’re studying law or finance and have an interest in working in commercial law or investment banking, becoming a legal or financial intern could be a great way to get your foot in the door.
These internships usually involve supporting the firm’s legal team with various tasks, such as drafting documents and performing legal research. This can be an interesting and informative internship experience if you’d like to go on to work as a lawyer later in life. However, many interns report that they spend most of their time performing mundane administrative duties, so it’s important to consider whether this is something that appeals to you before applying for this type of internship.
Finance internships might include helping with accounting and auditing, preparing reports for investors, researching stock information for clients, managing corporate accounts on social media platforms, writing content for the company website (such as blog posts and social media posts), analyzing data (such as the performance of certain stocks), creating presentations about company products/services/goals, etc.
You can find an internship that pays.
Despite the negative experiences interns may have encountered previously, finding an internship that pays in the UK is possible. The majority of internships are paid: 79 per cent of them pay at least the minimum wage. And due to reforms introduced in 2015, interns who meet certain criteria must be paid at least the national minimum wage or national living wage.
The average salary for an intern is £19,000 and some roles – such as those in finance and marketing – can have salaries as high as £28,000.
Not all internships are expected to be paid in full. There are a number of short-term placements where you will work for free but get compensated with expenses, such as travel costs being covered by your host company. These are most commonly advertised over summer months when students will want to take a break from their studies to gain valuable experience and make some money ahead of the start of another academic year.