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May 31, 2024
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For summer interns, expect FT analyst base (60k +/- 5k or 10k), some "transition payment" (usually 1 - 2k), which doubles up as a sort of "bonus".
Pay for SAs is pretty standard across the board. Banks typically work the SAs to the same degree, and their contribution to the firm is not significant enough to justify a price battle. Besides, from the intern's perspective, the difference in +/-5k across firms when you're only working for 2+ months will not make much of a tangible difference to your total pay package, and at the intern level, it's not worth sacrificing a good experience for higher pay.
I could be wrong about this, but it seems that in terms of absolute value, you will likely not be paid the same as a UK intern. What matters is the purchasing power of the dollar vs. the pound. You will, however, be paid an equivalent value. It's common sense.
I cannot say anything about signing bonuses etc for FT this year - things seem to be up in the air right now, with estimates all over the place.
^^ glad you had the patience to actually type that out. I don't know why the search isn't used more often considering there are like 5 active threads on this topic alone.
Hey, I'm new to this community. I still believe I can make a difference. :-D
Mice, Welcome. Learn to search.
However, the search doesn't work as well as other forums w/ advanced searches... not sure whats up with that
I'm getting 60k salary pro rated, with 1k housing stipend MS/GS.
Why would you think you would be paid in pounds?
Salary last year was 60k with a 2k bonus. FT is the same but with a higher signing bonus and the year end performance bonus. SA compensation is non-negotiable.
ya my friend is working at JPM this summer and hes making $4k/month
I did an internship at JPM London last summer (M&A). I used to get little bit more than GBP3000 per month. NO BONUS.. The good news is that I got an offer from them to work in their new office in Saudi Arabia (which I'm originally from).
Hope this was helpful
youre an SA, be grateful for fucking peanuts...
Yeah.....you should take whatever you get, I would.
I'm working at Barcap as a Corporate Finance Analyst this summer and I'm getting $14000 pre tax ($2500 biweekly + $1500 for moving), if that helps.
Same prorated base salary, 1k housing stipend, also half our pay over 40 hours a week in overtime.
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