The number of MBA interns reporting sign-on bonuses fluctuates year to year. At HBS, 18% reported guaranteed other compensation (down from 34% in 2014), at a median of $4,500 (up from $2,500). At Wharton, some 7% of MBA interns gained sign-on bonuses last year (down from 8% in 2014) that ranged from a median high of $7,500 to a low of $2,500. At Chicago Booth, 13% of the students who did internships in the consulting function received median sign-on bonuses of $2,500; that’s up 1% from five years ago, but the bonus amount is identical.
Most MBA students from leading B-schools are paid for their services as interns. The highest individual monthly salary was reported at MIT Sloan: $32,000. The lowest? $300 per month (in U.S. dollars) for someone at INSEAD. The lowest stateside was $400, for someone at Chicago Booth and another intern at Duke University’s Fuqua School of Business.
One noteworthy case: London Business School’s median intern salary was the only one examined by P&Q to actually decrease, by 11.1%, in the five years since 2014. Make of that what you will.