I'm confused.

I think most people in the position to receive internship offers from multiple reputable companies are intelligent enough to discriminate on more than money.

Raw salary, too, isn't an indicator so much of 'how valuable the company perceives you to be' as it is a function of competition and cost of living. $10K a month working for a quant firm in New York sounds great, but your living expenses are going to be much higher than, say, Seattle or Boston -- and your per hour is likely to be much lower as well, as you're likely spending upwards of sixty hours a week in the office.