According to a survey from the Association of Graduate Recruiters (AGR), 73% of graduate employers hired interns this year, offering 9,390 internships, representing a 13% year-on-year increase in vacancies.

The survey data also shows an average of 45% of 2015 interns went on to secure graduate jobs in the same company this year. One in ten employers convert more than 83% of their interns into graduate hires.

Internships offered by respondents are typically two to three months long and paid. Intern salaries are increasing at a faster rate than graduate salaries. This year the median intern wage was £330 a week(an increase of 4%) and equivalent to £17,160 a year. Median salaries for graduate programmes among respondents have risen by 2% year-on-year to £27,500.

“Organisations are broadening their talent pool by making their graduate jobs more accessible, engaging students earlier and increasing the share of graduates who were previous interns,” Stephen Isherwood, chief executive at the Association of Graduate Recruiters,said. “Employers value internships in particular as they get a chance to see what one brings to the organisation.”

Banks, engineering and accountancy firms make the greatest use of interns, hiring them in the largest volumes. Banks pay the second highest salary (£21,000 pro rata) next to investment banking (£30,000). The lowest wages for interns are found in energy, water or utility companies (£16,250).

 Many employers have made their graduate programmes more accessible by altering the minimum academic criteria they ask for. There has been an 12% rise in employers who don’t require a minimum number of UCAS (Universities and Colleges Admissions Service) points and a 3% rise in employers who don’t ask for 2:1 at degree level.

Furthermore, 82% do not require applicants to have studied a specific degree subject. This is 3% higher than last year and means that graduates can consider a broad range of career options.

“Many employers have recognised the benefits interns bring, so invest and place a lot of value on them,” Isherwood said. “However, while the image of internships is changing, coming a long way from its tea-making roots, this isn’t representative of all businesses.”

The AGR Annual Survey 2016 is based on the responses of 208 AGR members in the UK, from more than 17 sectors and with more than three million staff. They expect to offer a total of 33,755 graduate, apprenticeship and school leaver vacancies, 9,390 internships and 3,269 -industrial placements in 2016.