MM firms: what do they pay summer IBD analysts?
Small-ish ones like BMO Nesbitt, Tommy Weisel, Robertson Stephens.
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the reason i ask is bc i'm not sure if i should even bother....if they don't pay enough for me to survive, i sure as hell am not takin out loans or rackin up credit card debt
If you want to get into banking, you would be a moron not to take a summer internship because of pay.
same base salary as full time first years
we used to pay a modest end of summer bonus, but moved away from it in the downturn. now we substitute with enhanced signing bonuses for summers who accept early.
I believe small banks are probably on market - why chintz on the $500 you'd save by paying a summer less? It costs more to have an analyst car me a PIB than it does to pay a summer. Why mess up a potentially good hire for that?
Small banks have incentive to be extra competitive to land a summer - it's relatively easy for a summer to use his experience to trade up, and they know it.
okay, thanks genghis.
no problem, how's the search coming?
well, i think i have a good chance at interviewing at one of the above firms but the banker told me to get in touch with him in the spring. i guess that means late March, i dont know.
i'm at a target school so that's a lot later than most wall st firm interviews.
keep your head up - remember, you only have to get lucky once
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