Yep, I was hired by a company where I did an internship and was actually paid slightly less as a full-time employee than as an intern (more benefits, though). As an intern I made $40/hr, hired full-time at $80k/yr.
Figure 10 days PTO and holidays, 40 $/h * 40 h/wk * 50 wk/yr = 80 K$/yr. You made the same amount. OK, maybe you work more than 40 hours a week, but if you're salaried you don't account for that anyway.
$40/hr is a pretty ridiculous salary for an intern, good for you, man. Maybe you, personally, were worth that much, but on average, it's at least double of what the companies should be paying to interns. Heck, $15/hr should be fine.
