WATCH: Do You Make Less Than A Bay Area Tech Intern?
A Bloomberg analysis puts the monthly base salary at $6,800 for Engineer-Centered Interns at big companies like SnapChat, Twitter and Tesla. That's almost double the National Average of $3,873 a month.
As an example, according to a survey conducted by Yelp Intern Rodney Folz, the median package offered by Pinterest is $9,000 per month in cash, a $1,000 relocation bonus and a $3,000 per month housing stipend! Hmmm Pinteresting....Pin that to your 'Dream Job' Board immediately!
Media representatives declined to confirm exact numbers, but some conceded that they offer 'competitive salaries'. If these rates are 'competitive' then long time residents are in trouble. A poll from CNN Money reports that a third of Bay Area residents say they are likely to leave the region in the next few years due to it's lack of affordability.
Even though residents are not happy with the high cost of living, which is 62.6% higher than the U.S. Average, Folz thinks that high intern salaries are paying off.
Watch video above for full story.