This is an interesting article stating that Facebook interns make $5,662 per month equating to a prorated salary of $68,000 also the article states that Google interns make $6,862 equating to a prorated salary of $82,000. Who knows how accurate these numbers are and I would be interested to know how many hours the interns are works.
I doubt they are pulling 80-100 hour weeks, and the culture at these tec companies are amazing. Now most investment banking interns are making $5,800 a month on a prorated salary of $70,000 some are making overtime at the BB, but if you were smart enough and lucky enough to land a Facebook or Google internship sounds like a good gig.
I know a girl who turned down a top BB (think GS/MS) FT offer, after an SA stint, for Google FT. Granted, she also did not particularly like her IBD group at the bank.
Those are valid. In fact, they actually seem quite low for someone on the engineering side of things.
In tech, the more 'business-y' entry-level roles tend to be similar base as IBD but with minimal bonus.
It seems low. I was under the impression most of the software developer type positions paid > 100k.
80k seems more reasonable for corporate finance at google.
afaik, there is not corporate finance role at google for interns or recent grads, so this is invalid? please link or sth
*same for fb
GOOG has FP&A roles for recent grads. But they don't pay 70k. The Google numbers reported are for engineering internships; the corporate side starting pay is lower.
And yes, GOOG/FB is not a great place to work on the business side. Their financing needs are not exotic (billions in cash on hand), and FP&A is fairly straightforward there. Google's marketing program is the lone exception, but even that is only appealing if you are interested in marketing (and I still think it holds less weight in the industry than the standard P&G marketing program).
That said, corp strat/product management positions are very interesting. But they also primarily target MBAs and ex. consultants.
Not sure about FB, but Goog's internal M&A team is largely driven by the needs of the engineering depts. and the need for patents - as such, it is largely JDs.
jpm tech summer pays something like 60-70k prorated @ 40hr/wk; has overtime too
no, google does not pay 100k prorated for summer
5rc is the only place i know paying interns 100k p/r
Speaking of California overtime pay, has anyone done an SA there and made 30k+ in a single summer vs 15k in NYC/Chi?
Yup.
Most tech firms ask for IB experience for non-engineering roles (from what ive seen)
well, i was at some google workshop (they recruit at my school)... it was ok, not too much fun etc... i expected more competitiveness and creativity
i actually applied for that only beacuse i truly like the firm and its products, and because i was influenced by wso
people are on average working there for 3,5 years and then they leave, for startup or something.. i always thought its "google for life thing"
it is by no means super high paid or anything.. i guess its ok for the hours, but bonus is pretty much 0
also, finance roles are crap, at least for first 2-3 years, i mean, they invited me to apply for some of those and i still cant figure out what would i want to do there... you have to work as for example (keep in mind i know several languages so that means more opps):
Online Sales Account Manager Online Sales Account Strategist Ads Quality or Search Quality Associate Associate Account Strategist, SMB Sales Associate Account Strategist, Global Customer Service Account Manager, Online Partnerships Group (for school leavers)
Account Coordinator Intern Associate Product Marketing Manager Intern Associate Product Marketing Manager Intern Industry Analyst Intern Legal Intern (Rechtsreferendar) Legal Intern New Products and Solutions Intern, Mobile (for interns in 2nd-3rd year)
most of those interesting are in some crappy offices... for example industry analyst or new products and solutions..
and that guy representing goog was working as some SMB (small middle business) acc strategist, ads something, and then he moved to the HR
i mean, how good can it be when you move to the HR after like 4 years at something totaly different...
that being said, it looks like its very easy to switch to different locations and roles... but to get to the top... i guess it would be better to start at some BB and then get in GOOG after x years
Those numbers are just about right. The interns at the big tech places can usually expect $5,000-$7,000 a month. And they certainly aren't working IB hours.
Tech companies generally pay 60-70k out of undergrad in California from my experience. But the Google's and Facebook should slightly pay more than the shittie HP and what not. But usually your ceiling is capped in the low 100ks even after 20 years if you don't proceed to try to climb the corporate bureaucratic ladder.
Although those numbers are pretty accurate, understand that the average engineer is NOT going to get into any of those places. Facebook and Google pretty much hire students within the top 5% from a top 10 school and networking will not get you the job. Interviews are rigorous and technical questions are nothing to be smirked at either. There are anomaly's where a non target student who knows his stuff really well might be able to slip through the cracks but for the most part those salaries are well deserved and earned.
Not surprising at all. You dont need to be an an MBB or BB and have to work those hours.
If you get into the right group at the right firm, you can clear BB-base or MBB-all in no problem with around 40 hrs a week. I was lucky enough to have this opportunity (corp strat group of a small firm in the west) and the lifestyle/comp is amazing (slightly below MBB around 38 hrs a week avg).
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