Salary for MSc Student on Placement

[VX Foxy]

We're looking to take on an MSc student (electronics) for a 3 month placement. Any ideas what the going rate of pay is? We'd also like to pay a bonus for completion of various tasks.
Any advice gratefully received.

[Bodo]

We've paid €700 + €350 rent allowance pcm for a 6-month placement in a technology company.

[VX Foxy]

Thanks for that, I was expecting it to be more. Is that in Germany?

[K87]

Assuming they already have a bachelors degree would have thought it would be in line with a graduate wage. Maybe a tad less. Even placement students who haven't completed their degree earn upto £1000 a month after tax

[rog007]

VX Foxy said:

We're looking to take on an MSc student (electronics) for a 3 month placement. Any ideas what the going rate of pay is? We'd also like to pay a bonus for completion of various tasks

Pay them! Convert 'placement' to 'summer internship'; they're free!

[VX Foxy]

rog007 said:

Pay them! Convert 'placement' to 'summer internship'; they're free!

That was my thinking...in fact they should pay us

[STW2010]

Has the university not given you any advice?

Our students (as in the ones in my department) don't get paid directly by the company, however each university is different.

[mgmrw2003]

VX Foxy said:

rog007 said:

Pay them! Convert 'placement' to 'summer internship'; they're free!

That was my thinking...in fact they should pay us

I've completed BSc, and MSc.......... did a 4month "trial" which was about £17k per annum salary, until the company nearly went bust and I was shown the door.

That was 2years ago, since then I've noticed the salaries on simillar schemes advertised has plummeted. A lot want to pay "bursaries" of £150 a week or "costs" ...... Which make them unfeasible if you're having to travel etc.

[Bodo]

VX Foxy said:

Thanks for that, I was expecting it to be more. Is that in Germany?

Yes, Munich - hence the rent allowance.

[AyBee]

You can pay as much as you want to be honest. The salary will just determine what sort of calibre you get, if it's a decent company, you can pay travel expenses only, if there are lots of jobs available, you will have to pay a bit more. Not really helpful I'm afraid but pretty much the truth

[escort90]

im doing a 12 month placement next year in engineering and earning £16k. Im doing a Beng at the moment by the way.

[BeefMaster9000]

AyBee said:

You can pay as much as you want to be honest. The salary will just determine what sort of calibre you get, if it's a decent company, you can pay travel expenses only, if there are lots of jobs available, you will have to pay a bit more. Not really helpful I'm afraid but pretty much the truth

This.

When I was applying for placements there was a very obvious trade off between doing cutting edge R&D working for a company that would strike awe into future readers of your CV, but accepting that they wouldn't even pay your travel expenses (to Maranello!) let alone a salary.

Whilst at the other end of the scale, you could work for a certain german car manufacturer, doing much less interesting mass production work, but get paid quite generously for a BEng undergrad (~ 20k).

So if your company is the equivilant of the current F1 world champions of your industry and you can offer some interesting projects, you'll get away with murder!

[AyBee]

escort90 said:

im doing a 12 month placement next year in engineering and earning £16k. Im doing a Beng at the moment by the way.

I got £15k in my 3rd year - inflation