Internships are a common phase of work that many students go through to gain work experience. Students can be full-time or part-time interns, with hours determined based on the needs of the company. Depending on the industry and size of the company, work can range from menial and administrative to large-scale project management.
However, one similarity between all interns is that they tend to be poorly paid for their work compared to full-time staff. According to Adecco, salaries for interns in Singapore can range from S$600 to S$1,000 per month, but this differs greatly from situation to situation.
How Much Do Interns Get Paid in Singapore?
Wondering how much interns get paid on average in Singapore? Let’s break down some average internship pay by industry:
How Much Do Banking Interns Get Paid in Singapore?
When it comes to earning above the average intern for a vacation gig, investment banks are the gold standard. Interns for investment banks can earn up to S$10k per month, especially when they work in sales or other front-office roles.
According to Singapore Business Review, interns for international investment banks such as Nomura, Bank of America Merrill Lynch, J.P. Morgan, and Goldman Sachs earn between S$9k to S$10k a month. Mid-office interns earn less than investment banking interns, earning about S$4k every month. For Asian-centric banks, intern pay can go up to S$3k.
However, if you’re thinking that this charmed life extends to the actual work itself, an article from The Straits Times says otherwise. In the article, interns speak about working 14-hour days from 6:30 am to 9 pm, and even more when it comes to peak trading periods, in order to keep their internships and hopefully get converted to full-time staff.
Hospitality Internship Pay in Singapore
Hospitality is a huge industry that includes different sectors, such as Food & Beverage (F&B), Hotels, Travel, Tourism, and Front Office. So, how much do interns make in Singapore when they join the hospitality industry? Internship pay differs across various departments, so it’s possible for monthly salary to range from S$700 on the low end to S$1,300 on the high end.
Engineering Internship Pay in Singapore
Most engineering interns are recent university graduates or students who are currently enrolled in an engineering program. In most cases, you need to either have or be working towards earning a relevant diploma or degree in order to be considered.
So, how much do interns make in Singapore’s engineering industry? Average pay is around S$900 per month according to PayScale, and that can include routine tasks such as running validity checks. Of course, for specialized roles that require specific expertise, intern pay can go much higher, up to S$4k per month.
Retail: How Much Do Interns Get Paid in Singapore?
It’s tough to tell how much interns in retail positions can earn, as there are more part-timers than interns working retail. And considering that average pay is on the low end of the scale at S$500 per month, it isn’t hard to understand why many students would rather work part-time instead.
However, Singapore has been fast-tracking internships for retail students, as covered in HR in Asia back in 2016. With that plan in mind, we would expect more retail internships to be released to students who want to gain experience in the retail sector.
Technology Internship Pay in Singapore
Technology is one of the most exciting industries to watch, as there are many tech start-ups that provide new solutions to old problems. However, this means that there’s a wide range when it comes to how much interns get paid in Singapore. For instance, some early-stage startups cannot afford to pay interns much at all; while others are rapidly hiring interns in the hopes of converting them to full-time staff.
At the same time, there are more established companies such as Oracle and Salesforce who can afford to pay interns better than the average. As a result, there isn’t a known average, but a technology intern salary can range from S$800 to S$1,300 a month, according to Glassdoor.
Find Your Next Opportunity on GrabJobs
Regardless of the industry, it is important to remember that interviews and screening processes will always be in place to ensure a good job fit for the role.
Applying for internships can be a tiring process. In-demand roles that pay above average can result in four to five rounds of screening and interviews, from psychometric and personality tests to phone interviews with HR and face-to-face interviews with senior management.
In the end, internships are about ensuring that both the company and the student come away richer for it, with the latter getting important (and relevant) learning experience that can help them land a job that fits their goals and skill set.
Looking for your next internship? Check out local listings for jobs and internships on GrabJobs today!
