1. Banking
Despite the financial meltdown in 2008, internships with banks are
booming, says Yazad Dalal, executive vice president of Vault.com, a
career counseling Web site with a database of more than 800 internships.
"Even now, the internships that tend to pay the most are in the financial sector," Dalal says. "We're listing more than 50 (paid) internships in that category and we're seeing more coming in."
Even
with banks downsizing, the Bureau of Labor Statistics lists financial
examiner as the nation's fifth fastest-growing occupation, behind
biomedical engineers, information technology workers, home health aides
and personal care aides.
Financial
internships are not only growing, they also are lucrative, Dalal says.
Students who land an internship with firms like New York investment
banks Goldman Sachs Group Inc. and JPMorgan Chase & Co. can expect
to rake in $30 or more an hour. Start your search by targeting local and
national banks and by searching job-hunting sites like Monster.com.
2. Government
If you're looking for fast cash in a summer job, see Uncle Sam.
Federal and local governments are among the top places where students
should start a search for paid internships, says Michael True, head of
the internship search site InternQube.com and internship center director at Messiah College in Grantham, Pa.
"The
federal government offers excellent opportunities for students in a
wide range of majors, even liberal arts," True says. "Everyone from the
NSA to the CIA hires interns, so there really are some major
opportunities."
True says the pay range
is wide -- from $10 to $25 an hour, depending on the internship and
skills required. Government internships also can open doors to high-paying jobs. Start your search for a government position at Studentjobs.gov and find paid internships, ranging from engineer to financial auditor.
3. Communications and Social Media
Communications interns weren't a hot commodity until social networking exploded.
"There's been a big increase in small businesses relying on students to start up social media
marketing," says Gary Alan Miller, assistant director for university
career services at the University of North Carolina at Chapel Hill.
"This has been a big area of growth, particularly for younger workers."
While
average intern pay hovers around $11 an hour, Miller says students who
have social media skills may have more bargaining power. Where most paid
internships are designed to give students real-world experience,
companies without a social media marketing program may tap students
raised on Facebook and Twitter
to show them the ropes. Students should check out their college career
center and specialized Web sites like Mediabistro.com,
CreativeJobsCentral.com and JournalismJobs.com.
4. Accounting
"We may only have about 20 accounting majors every year, but there's
never a question about whether they'll have paid internships," says
Jennifer Rowley, internship coordinator at Loyola University in
Baltimore, Md. "Accounting is one of those fields that requires a
specialized skill set, and firms generally pay pretty well to get it."
According
to PayScale.com, a Web site that tracks compensation for more than
7,000 jobs, the average accounting intern earns from $10 to $18 an hour,
but Rowley adds that top firms like Ernst & Young, and
PricewaterhouseCoopers can earn more than $25 an hour.
In
addition, plenty of options exist at small firms and in accounting
departments of hospitals and libraries. To find these jobs, students
should head to their school's career center, call local firms or use
internship search sites like Monster.com, CollegeBoard.com or
InternJobs.com.
5. Information Technology
The Bureau of Labor Statistics says two of the top 20 fastest-growing occupations fall in the computer science field. According to Monster.com Vice President Eric Winegardner, paid internships are booming here, too.
"Over
the last 90 days, the top category for internships has been for
computer specialists. This is where you'll find your programmers, Web
developers and engineers," says Winegardner.
Among the many
technology-related internships, students can find the most lucrative
ones at big firms like Dell Inc. or Cisco Systems Inc., both of which
made Bloomberg BusinessWeek's top 50 internships list last year and paid
from $19 to $29 an hour. While job-search sites will provide plenty of
options, students can find specialized positions through their college
computer science department and through government jobs offices.
No
matter where you begin your internship hunt, Vault.com's Dalal advises
students to start early, tap local resources and check out their
school's internship fairs.
"Starting
in winter, if you're looking for a summer internship, is crucial in
getting a job in this economy," says Dalal. "Students have to cast their
nets wider and earlier."
For more on internships and job hunting, click on these Bankrate stories:
You need experience; they need new recruits. For companies and college students, paid internships are a win-win if you're lucky enough to land one.