Guess Where Even the Interns Make $6.3K per Month
Facebook tops survey of best workplaces in America
By Mark Russell, Newser Staff
Posted Dec 14, 2012 11:33 AM CST
Facebook just re-took the top spot in Glassdoor's survey of the top places to work in America.   (AP Photo/Paul Sakuma, File)

(Newser) – It looks like Facebook should be expecting a lot more friend requests. The social networking giant just topped Glassdoor's latest employee choice awards, making it the best place to work in America, reports Slate. And what makes Facebook such a wonderful place of employment? Good people, swanky snack lounges, and plenty of ping pong. Oh, and the plush salaries don't hurt—software engineers average $114,000 a year, and even lowly interns pull in around $5,600 to $6,300 a month.

Facebook is hardly alone, notes Slate—other tech companies pay software-engineering interns similarly. Same with the investment banking industry: Citi pays its interns $5,570 a month. Facebook re-took the top spot in this year's rankings after dropping to No. 3 last year; it was No. 1 in 2010. McKinsey & Co. was this year's No. 2, followed by Riverbed Technology and Bain & Co.

More From Newser
My Take on This Story
To report an error on this story,
notify our editors.
Guess Where Even the Interns Make $6.3K per Month is...
50%
2%
24%
7%
15%
2%
Show results without voting
You Might Like
Comments
Showing 3 of 7 comments
InferiorToYou
Dec 17, 2012 5:42 AM CST
I'm guessing Newser
Treyfiz
Dec 14, 2012 7:48 PM CST
$5600/mo and even $6300 are still far below market rates for the type of work these interns do. Most of them could make more contracting for a summer. It's just the experience and the chance to be in the Facebook environment. $114,000/yr is pretty meager as well for an engineer living in the Bay Area. Companies like Facebook tend to pay at the lower end of the market rate because they see the benefits they offer as compensation. Sadly those stock options probably aren't panning out so great for people hired in the last year.
wwwonderer
Dec 14, 2012 3:41 PM CST
Correlation and causation. Facebook isn't paying interns like that because of the value of their work. FB wants to be seen as "cooler than Apple". Zuck wants to be Steve Jobs II:The Sequel. Now considering the equity compensation tax bill of about $2 BILLION recognized over three years means FB will be paying about $700 million EACH year for the next 3 years in taxes alone. They would have turned a profit for Q3 if not for the tax bill. Oh and then there's this: http://www.valuewalk.com/2012/12/facebook-inc-fb-struggles-to-convert-instagram-into-a-cash-cow/ Instagram confirms that it disabled image card support on Twitter to provide users a visit to its website. Similar to: Apple discontinues Windows support for (Shake, Logic Audio) If you're lucky you can get in at $48 per share. Of course that will inflate the "slim" P/E ratio it now has of 249.