Negotiating an Intern Hourly Rate after Offer Acceptance?

2021.10.15 21:42 Traffy-San Negotiating an Intern Hourly Rate after Offer Acceptance?

I am a CS student and got a summer 2022 software engineering internship offer to work at a mid-large size company. I was given a lot of time to accept the offer, so initially I did not accept it because I was put on a waiting list for a better location that I desired. A while later they told me that the better location opened, and also because the location is more expensive to live in, they raised my hourly rate a little. I accepted the offer not long after, which in hindsight I think was stupid because not only was I pressured to do so by my parents, but also because it had an extended deadline to today actually. Not long after accepting the offer, I got accepted for 2nd round interviews at another company that I did not expect to get contacted back for, and I decided to do it anyways for practice. This company has a smaller profile than the first one, but is also interesting enough for me to want to have applied to it in the first place. I'd say it is just a mid-sized company. The 2nd round actually went very well, and I ended up getting an offer this past week for that company as well. I did not have too big of expectations of what they would offer me for this second company, but it turned out that they seem to care more about my talent because of what they offered me. The position for this second company would be fully remote, and are only paying literally $1 less than the first company I mentioned. I obviously would be making more if I had taken the second offer because I currently do not live in an expensive place. After everything the hiring manager told me about my offer and likely general role for this second company, I personally feel a little more attached to the second company. However, I do not feel that it would be right to suddenly decline my offer acceptance for the first company, and I still have mixed feelings between the two. This is a list of pros vs cons for the 2 companies that I came up with:
Company A:
-In a location I would like to be in
-Mid-large size company
-Gave me mid-pay range (They have a fixed hourly pay range that gets assigned to you based on your school year and likely how much they value you, so if you get assigned the high-end they definitely want you there as much as possible, while the low-end probably not as much) (I am also currently a sophomore btw)
-Streamlined internship program, so it is organized well and has some fun opportunities like intern hackathons, career programs, etc. In short I would be able to have a good takeaway from this experience.
-In-person experience (though I need to note that I already had an in-person internship this past summer with a small company so I have a basic idea of how it feels)
-401K contribution offered and a couple of accrued paid time off days, and flexible unpaid time off days
-While I love the location, it is expensive to live in. Comparable to NYC living expense. They raised my hourly rate by 2$/hr for this location.
-If I be an ass and take back my offer acceptance there's probably no way they'd ever want me back lol
Company B:
-Seems to care more about having me on board - hiring manager actually even told me what department I would be in, and likely tech stack/work I would be involved with which sounds good to me
-Fully remote (I can be wherever the heck I want and live with my parents lol), and I am allowed to visit office if I want to, but its not required or obligated.
-Gave me mid-high pay range - considering that this company is somewhat smaller than Company A
-Has return rate of about 50%(not sure how good that actually is compared to other companies on this level). During 1st round, 2nd round, and even with the hiring manager, many people commonly brought up coworkers that came from the internship program or were actually previously part of it at one point in their lives.
-401k contribution offered, and only flexible unpaid time off days
-If I reject the offer here, I am not sure if they have any negative internal biases to any future applications I may submit if I want the chance to work here again in the future
Some more notes: I want to pursue a 3-year graduation and both these companies are only aware that I am currently following a 4-year graduation path of May 2024. I might not even consider company B next year for a 2023 internship if even better opportunities arise for Tier2-1 companies so I hope I would not be missing out on a better internship experience with Company B. The thing with the 3-year graduation is that the company that I intern for in 2023 would hopefully be a company that I would and could straight out enter a full-time entry-level job for after graduating.
My question:
Sorry if this post has mostly seemed off topic to my question, but I have basically concluded that I will probably go with Company 1 especially since I already accepted an offer there. However, I am wondering if there is any possibility of me being able to negotiate a higher-rise in hourly wage, especially since I was only given mid-pay range. I just feel like I am losing a bit right now by going with Company A and trying to compensate that feeling with a higher pay raise I guess. When the recruiter called me back to notify me about the opportunity to change location, they asked me to confirm my graduation year (which I responded 2024) and only gave me the adjusted number after that. So even if that is what they have on file, if I make an argument that I expect to graduate 1 year earlier than what they have on file, would that be valid? If I had not accepted the offer here, I would have also made the argument that Company B gave me a pretty competitive rate especially with them being fully-remote. But I am not sure how well that would come off anymore.
I am not sure how to think about my situation properly anymore, so any guidance/advice/thoughts would be appreciated. Thanks for reading this very long post!
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