Facebook Interns Make $75k A Year

Enrage said:
Jesus Christ! In Australia $75,000 per year equates to $4,900 in the hand per month.

I want to work in the USA :(
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Don't worry after Federal taxes and then local taxes you'd end up with less than $4900 in hand a month in the USA. Also, in most of the US you wouldn't get wages like that for an intern. Still sure you want to work here?
 
well these are likely top talent CS/CE grads from a top level school. Not surprising at all
 
StormUP said:
Don't worry after Federal taxes and then local taxes you'd end up with less than $4900 in hand a month in the USA. Also, in most of the US you wouldn't get wages like that for an intern. Still sure you want to work here?
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Approx $4640 in Texas on $76400 salary after taxes, health, dental insurance and 4% 401k contribution. Take away all that and we're about at $4900
 
I wonder what the demographics of their interns are. I mean, I doubt they recruited their interns from Asia.
 
Staples said:
I wonder what the demographics of their interns are. I mean, I doubt they recruited their interns from Asia.
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Like eon mentioned, Facebook isn't hiring people who "got by" with a degree in Comp Sci; they're in a position like Google, Apple, and MS where they can pick the best programming talent from the best schools.
 
nealric said:
I'm talking about large firms in major cities (I.e. a firm with a 300 attorney New York office). If you do not work at such a firm, odds are your firm does not pay that.

For example: http://www.srz.com/faq/
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What is your summer associate salary?
In 2012 summer our summer associates were paid a weekly salary of $3,077. The salary is based on the first-year associate annual salary of $160,000.

How many weeks will your 2013 Summer Program be?
Our 2013 summer program will be 11 weeks.
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That says associate, not intern...but regardless that's a hell of a weekly salary. :eek:
 
These are probably 3 month positions, with no health benefits, stock based compensation, or retirement plan/contribution. If all the benefits were supplied, the salary would go down quite a bit (yay for hidden costs/hidden compensation). Some of the internships around here provide housing (because it can be difficult to get a 3 month lease), not sure if that's included or not for Facebook.
 
TheMadHatterXxX said:
That says associate, not intern...but regardless that's a hell of a weekly salary. :eek:
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You think those are seasonal lawyers? lol. "summer associate" is just a way of snazzing up intern.

I worked at a "firm" for one of my engineering internships and they called me a "summer engineer." They even discouraged the use of the term intern. Main difference was I gt $18 /hr at that job, not $90/hr lol.
 
Rents are insane again out here in the Bay Area. I just got hit with a double digit percentage increase. The job market is pretty good here -- so I assume the problem is that people are coming here for work, since the housing availability rate is at an all time low.
 
TheMadHatterXxX said:
That says associate, not intern...but regardless that's a hell of a weekly salary. :eek:
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"Summer Associate" = Intern

These programs are for students who have just completed their second year of law school. Most firms give 95+% of them permanent offers at the end of the summer.
 
Wow, that's going to piss off full-time software engineers who are making a lot less. :eek:
 
Oh... such first world problems we have here.

Living costs are INSANE in the Bay Area. Want a house in Palo Alto next to that Facebook job? That'll be over 1 million easy. I live next door in Mountain View in Google City and my shitty 60+ year old <900sqft fixer upper home can easily go for $800K+ on the market. Friend of mine just got an apartment in Mountain View and he's paying around $2,300/mo for a 1br apartment.

Dunno if I'd consider living in E. Palo Alto even though it isn't as bad as it was during the 90s/early 2000s. Have a feeling it's gonna start getting gentrified soon though.
 
nealric said:
"Summer Associate" = Intern

These programs are for students who have just completed their second year of law school. Most firms give 95+% of them permanent offers at the end of the summer.
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My wife is an attorney and an associate is different from an intern. A legal intern is what you get when you're in the summer between your year 2 and year 3 of law school. An associate is what you get called when you complete law school and have passed your bar exam, but have no real work experience and they take you in to train you. And yes, you CAN get paid that much for an associate position.

Summer Associate is not a term I'm familiar with, though. It's probably more of a regional term, as the state I'm in doesn't allow law students to take fully paid associates positions.

Keep in mind, even some midrange firms will pay some promising law school graduates $60,000 a year to NOT take a job while the firm waits for a position to open up to extend a full offer.
 
Makaveli@BETA said:
Toronto is expensive to live in but pales in comparison to really large cities.

The pricing in New York makes Toronto look like a ghetto apartment building lol.
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http://www.citymayors.com/features/cost_survey.html

The only US city that is more expensive than Toronto is New York, and I expected that. However, I've only lived in Toronto and not New York, so I didn't comment on it.

The difference is that Toronto actually rates highly as one of the world's "Most Livable Cities", whatever that means.

http://en.wikipedia.org/wiki/World's_most_livable_cities

I guess the metrics are that people live there.
 
ballistic90 said:
My wife is an attorney and an associate is different from an intern. A legal intern is what you get when you're in the summer between your year 2 and year 3 of law school. An associate is what you get called when you complete law school and have passed your bar exam, but have no real work experience and they take you in to train you. And yes, you CAN get paid that much for an associate position.

Summer Associate is not a term I'm familiar with, though. It's probably more of a regional term, as the state I'm in doesn't allow law students to take fully paid associates positions.

Keep in mind, even some midrange firms will pay some promising law school graduates $60,000 a year to NOT take a job while the firm waits for a position to open up to extend a full offer.
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Full disclosure: I am an attorney at a firm that pays these salaries and was a summer associate prior to joining the firm full time.

The term is national, but like I said, only applies to very large firms operating in large cities (mostly NYC, San Francisco, LA, Chicago, Houston, Dallas, Boston, Washington D.C.). They aren't considered attorney positions and do not require any sort of bar admission.

The $60k deferral stipends only occurred during the worst recession (2009-2010). No firm that I have heard of is paying people not to work.
 
Enrage said:
Jesus Christ! In Australia $75,000 per year equates to $4,900 in the hand per month.

I want to work in the USA :(
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You don't, the average wage is lower in general. Unless you actually want to work at Facebook, you're no worse off staying in Australia.

Anyway, I could swear we already had this discussion several months ago? Maybe that was Google interns? I definitely remember having a discussion about interns earning large amounts of money.
 
That is a lot of money for me. More than that and you start being rich.

I'm not disagree with this for now.
 
BiH115 said:
I make somewhere around there, not trying to start a bragging contest, but it all depends on where you live. I have a few family members that make north of 90K, but live in L.A., where that kind of salary is just "OK" at best. I live in New New England though, on the east coast, and it's a pretty tidy sum of money. I think a lot of people freak out over the number, without really considering what the cost of living is in other places. My salary in New York would be right around "lol" with a side of "meh".
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This is true...and after looking at that cost of living site, they're making roughly what I was making based on cost of living between Palo Alto and St Louis area (http://www.areavibes.com/cost-of-living-calculator/). Though, to be fair, I worked my dick into the ground for five years to get the promotions and raises just to get to the point they are starting at. I really hope I can get this new career in networking off the ground so I can be as well off...
 
Mak54291 said:
That is a lot of money for me. More than that and you start being rich.

I'm not disagree with this for now.
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That is not a lot of money when you are paying over 20K / year in rent. Also, CA has some of the highest state income tax in the country so take away another 10%, so another 7500 down the drain. You'd be surprised how far 75K doesn't go in SF or LA in CA. You will also need around 80-120K in CASH one day to buy a house if you ever want to have a family. I suppose you can keep renting, but the amenities will never reach that of a house. It is a higher salary, but often a lower standard of living than the cheaper places in America.

It's not even close to what it is like to be rich. You might THINK you have some spending cash, but it would be irresponsible to actually spend it.

Also, interning for engineering anywhere is different than interning elsewhere. You are often doing real work like a junior engineer. You are not fetching coffee. There are few unpaid engineering internships.
 
Tankerton said:
Also, interning for engineering anywhere is different than interning elsewhere. You are often doing real work like a junior engineer. You are not fetching coffee. There are few unpaid engineering internships.
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^ This.
 
nealric said:
Summer interns at top law firms make an annualized $160,000.
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Same for MBA summer interns. Working at an IB or top tier consultancy easily gets you that pro-rata.

I can't talk about the engineering ones but a lot of summer internships are pretty cruisy, lots of drinks, lots of dinners, pretty normal hours, pretty decent money and if you're lucky they'll put you up in a nice apartment with a couple of other interns. It's as much, if not more, about wooing the intern than it is seeing how good they are (they rely on the schools to do that in a lot of cases) Then you get the offer letter, go work there and they put you on the grind. 60-70 plus hour weeks for two or three years, get your up or out and then start getting a slightly normal life again.
 
This world would be alot more pleasant with fewer problems if you concern yourself with the money YOU earn and NOT worry about what other people make. This doesn't surprise me, but ultimately I couldn't care less. Articles like this are meant to stir up anger in people that make less. There is plenty of anger to go around....why create more? Anyone upset about this should consider that it's their own use of Facebook that allows it to happen. I'm sure that interns at Intel, Microsoft, or Apple make a comfortable paycheck too.
 
Its in Palo Alto. Thats not that much elsewhere. Cost of living really is that inflated.
 
Seems like a lot of money but I quickly did a cost of living calc (dunno how accurate, seems right though) for Minneapolis (me) vs San Jose...

I make about the same as the interns but my dollar goes a lot farther...

Would consider myself mid-class and comfortable (cause I don't have granite counter-tops and 5 kagillion bathrooms). Very happy...

Not too bad with only a high school degree and 2 year technical "MS networking" junk paper...

My favorite part... I make more then most of my friends that still have HUGE student loans (The only loan I have is home)...

Education and big money jobs is not the only way to be successful. They pushed college now to the point where it can be a bad move. Heck some of the most well off people I know are plumbers, HVAC etc Mid-skill jobs I like to call them, not that they don't take skill but generally don't require 4 years of college.
 
dandirk said:
Seems like a lot of money but I quickly did a cost of living calc (dunno how accurate, seems right though) for Minneapolis (me) vs San Jose...

I make about the same as the interns but my dollar goes a lot farther...

Would consider myself mid-class and comfortable (cause I don't have granite counter-tops and 5 kagillion bathrooms). Very happy...

Not too bad with only a high school degree and 2 year technical "MS networking" junk paper...

My favorite part... I make more then most of my friends that still have HUGE student loans (The only loan I have is home)...

Education and big money jobs is not the only way to be successful. They pushed college now to the point where it can be a bad move. Heck some of the most well off people I know are plumbers, HVAC etc Mid-skill jobs I like to call them, not that they don't take skill but generally don't require 4 years of college.
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Truth. Sometimes, college isn't about the piece the degree, but rather who you meet and get to know, which can be a foot in the door (2 experiences I had at amazing firms). Also employers are more than happy to pay for your loans, providing all the puzzle pieces fit, so it's not an issue for most people (loans anyway).
 
Be glad for them. If it was up to me, everyone who worked hard and had a skill would be well off.
 
$75k is a lot for an intern, but how far does that get you in the Bay area?
 
I lived in DC on $75k. Lived in a 2 bedroom, 2 bath apt. Owned 2 cars. Drove around needlessly wasting gas. Bought lots of games, computer parts, car parts, etc. I'm single though, so only need to support me.

According to USMCGrunt's link, DC is 8.5% cheaper than San Francisco. If that's the case, you can live pretty well on $75k. I could just get a 1 bedroom apt and that'd probably make up that 8.5% difference.
 
krotch said:
I lived in DC on $75k. Lived in a 2 bedroom, 2 bath apt. Owned 2 cars. Drove around needlessly wasting gas. Bought lots of games, computer parts, car parts, etc. I'm single though, so only need to support me.

According to USMCGrunt's link, DC is 8.5% cheaper than San Francisco. If that's the case, you can live pretty well on $75k. I could just get a 1 bedroom apt and that'd probably make up that 8.5% difference.
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Did you manage any savings? Not to be personal, but hard to imagine living like that off 75k in dc and still saving money (unless you were into the suberbs).
 
Cali3350 said:
Did you manage any savings? Not to be personal, but hard to imagine living like that off 75k in dc and still saving money (unless you were into the suberbs).
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I put 6% of my pay into a 401k. Also, I definitely wasn't living in the central DC area. I was closer to the beltway. I could afford to live in a place like Crystal City, but I'd have to rock a smaller apt and get rid of the 2nd car, since parking costs more. I'd much rather have the extra space.

I could also easily save more money, but I was modding up my car. Larger wheels/tires, larger 4/2 pot brakes, CF hood (cheaper than fixing my stock aluminium one), lightweight bumper beam/bumper skin, etc. I was still putting around $100 a month away into my bank acct, for a nice Impreza STI engine and 6-speed tranny, so I can do a swap.
 
USMCGrunt said:
There's the problem...cause women are expensive as all hell, lol. :D
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Yep. That's pretty much when I'm always broke. I only dated a little while there. Too many yuppies in DC. I prefer Baltimore over DC.
 
$75k is just ok for someone is Palo Alto but it isn't as much as it seems. I mean a one bedroom apartment is close to $200 a month and that is for a cheap one. If you don't mind living 35 minutes away, you can find a crack neighborhood apartment for $800 a month.
 
USMCGrunt said:
Check out this. I used the midwest as a comparison...75k doesnt go very far out there.
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Yeah, I figured San Fran's cost of living would be about twice of some other places within the US.

Then again, FB interns (or interns in general) are probably living at home, so they'd be saving their greatest expense. :cool:

Anyway, my gut feeling tells me that esp. in this economy and even in San Fran, if they offered "only" $55-65k instead of $65-75k for interns, FB would still be OK.
 
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