I have a phone interview for Barcap for ib. However, i've searched everywhere and cannot figure out if this is a paid position. Does anyone have any insight about this? Or know someone who has completed a Barclays summer internship for the NYC office?
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lol yea man this is a paid position. 70k prorated.
Haha this gave me a good chuckle
LOL BARCLAYS NEVER HEARD THEM. GO FOR CHANG CHANG PIPER FINANCE TECHNOLOGICAL PARTNER!!!!!!!!
LMFAO
It's paid, but I'm not sure how much.
^The first post says how much. You are unbelievable.
70k for a summer internship? Keep dreaming, chump. It was a joke.
its 70K prorated, not 70K total
PRO-RATED. Chump.
can you read? the poster wrote 70k PRORATED, so probably for 8-10 wks or however long the internship is. funny post hahaha.
funny thread.
It's an INTERNSHIP. You're not making 70k, period.
I read prorated. I don't need anyone to repeat it. The OP asked what the pay for an internship would be. It's NOT 70k.
LOL I bet you've never even interned at a BB have you. Stop spouting crap.
Is that what you pulled in over the summer?
Look up the average salary for an Analyst at Barclays. A yearly salary is less than 60k in New York!
What's with you so-called know-it-alls?
lol this thread keeps getting funnier
what the hell is u of h?
University of Houston........
hahahahahahaha omg gotta be a troll.
Base is $70K + 10K sign on + end of year bonus.
UofHGirl: http://www.barrow.k12.ga.us/documents/How_Your_Prorated_Salary_is_Calcu…
that means a summer intern roughly takes in pre-tax about 13k to 14k. that is whats meant by "prorated".
Thanks UL8492.
Ok I can't take this anymore, the bimbos at Cain and Marquee are smarter than the girls on this site.
Before this turns into a spitting match.
The yearly salaries for IBD analysts in bulge are 70k.
For a summer internship, this is pro-rated. Meaning that you will be paid for the 10 weeks as if you were being paid 70k. This ends up being 70,000/52 *10 = 13461 before taxes. Plus the 2k signing bonus = 15,461 before taxes.
This is of course assuming they bump up summer analyst salaries. I wouldn't be surprised if they didn't, 60k pro-rated is still plenty for an internship.
Where are you getting those numbers?
A summer analyst is not getting 70k at Barclays. Period.
My brother interned at Barclays. He got 70K pro-rated. Now stfu.
okay UofHGirl is officially a troll in my book.
UofHGirl: as a previous summer analyst, summers do indeed actually get that much. There's a reason why people want these internships. Additionally, you work hard for the money. You might get paid a lot but you'll work 90+ weeks. In my summer I actually made around 18k total before taxes but that was because my bank paid overtime. Also, the only day I had off during the 10 weeks was July 4th.
coffeebateman: Your brother did not get 70k pro-rated. He got 60k pro-rated. I got an IBD summer analyst offer from there and they did not offer that this past summer. And they certainly did not offer that to S&T, research, etc. Unless he will be an upcoming summer analyst and they decided to bump it up, then that's possible.
UofHGirl, if you don't know something, don't call people chump or be defensive. You are wrong in this instance.
To the rest: People come to this forum to learn something. Not everyone is knowledgeable. Play nice.
For the purpose of this argument he was ;)
To the OP: Yes it is paid, but it depends on the division how much. The back office positions at BarCap this past summer were paid a bit less than IBD/ S&T.
Hybrid...
I looked into the starting salaries for a Barclay's Analyst and I got a est. less than 60k/yr. for Analysts in NYC. It's hard to imagine that they'd hire over 250 Summer Analysts and pay them 70k (pro-rated) for a summer internship. But I guess if you factor in bonuses, it evens out somehow.
If they paid you that much than congrats.
First of all, where are you getting this 60K number?
BB's ALL pay $70 + 10 for first years + BONUS which usually brings total comp for first year in at around $110K
Nobody hires 250 summer analysts for one location, again where are you getting this number from?
Salaries from Glassdoor.com and 250 from their website.
UofHGirl
The just recently bumped up the starting salary of IBD analysts to 70k this past summer. As did all the other bulge bracket banks.
Keep in mind every entry level person is given the term analyst. Some of the other divisions don't start off with the highest base. Because this is an investment banking forum, we assumed that you were talking about just summer analysts in investment banking. Some of the other divisions paid 55k pro-rated and 50k pro-rated. That's how the overall average is less than 60k/yr
I completely understand that it's hard to imagine. When I first learned about it, I found it incredibly surprising as well. Think about it another way though. As an analyst, you will be working on multi-million dollar deals. On the low end of the spectrum, a bank will make 700k on a single deal, on the high end, they could make 40 million. But the number of people working on these deals is on average about 6 people. Also think about how many of these deals you'll finish in a year. If you think about it like that, you'll quickly see why banks pay people so much.
As a first year analyst, you are responsible for a lot of potential revenue. So it pays for a bank to test you out for 10 weeks and see if you would actually be a good analyst. The 15k or so they might pay you for a summer is peanuts compared to what they will make off your work. My group for the summer which was ~100 people brought in close to a 600 million in fees for the first half of '09. If you break it down by average, each person helped generate 6 million dollars. After knowing this, if you were running an investment bank wouldn't you shell out 15k to attract the best talent and test to see if they'd be good on the job?
Actually first year all in is around 130k.
Don't bother explaining it to her. She is from a land of 30k salaries (combined family) along with cow tipping and hoedowns for entertainment. Romantic life and dating is focused on family connections and the house address depends on which trailer park she drove it to recently. I'm surprised you got on the internet and spelled "oasis" correctly.
However you may want to consider more frequent career paths for your "kind", such as appearing on the Jerry Springer show and flipping out at your baby daddy's beau.
By the way, 1stYearBanker, for you to be so bitter, your "accomplishments" are clearly confiscating for other things..
I dislike a lot of 1styear's posts. But this right here deserves some silver bananas. Simply awesome.
You're an idiot. I'm from the land of Halliburton and Enron. Both of my parents (now retired) made 6 figures. You know nothing about Houston.
I got a laugh out reading this thread.
Hybrid, you got a lot of patience to actually write such detailed explanations without blowing a fuse. Your talents are wasted in IB...lol.
Bragging about Enron? This girl is too funny
Thanks for the info. Hybrid.
1styearbanker's "accomplishments" are CONFISCATING for other things? who the hell are you UofHGirl? that makes zero sense- did you go to middle school/know how to speak? I'm sure there are some smart people at the University of Houston but you are soiling your school's name and are a disgrace to this site for trying to offer advice when you have NO IDEA about anything save for glassdoor.com.
to say this is one of the worst WSO threads I've seen in awhile is an understatement.
Shut the hell up, Bracelet19. It was an error, nothing to go tooting your silly horn about. At 1 AM I can say whatever I damn well please. And who the hell are you to decide who belongs here? Feel free to start your own website and start calling the shots, but until then, CAN IT.
Firstbanker (and perhaps you) like to talk a bit talk online, but you are clearly making up for something you lack. The fact that you would defend such a prick speaks volumes about yourself.
Please, feel free to use that excuse with your MD at 1 in the morning. Although I'm sure in Houston the closest you'll get to anyone caring if you make a mistake is if you screw up their KFC order.
@UofHGirl
This might need clarification. For summer analysts, 70k full time base gets prorated so you end up making ~13.5k after 10 weeks. By "70k prorated", the above posters do not mean you get 70k after 10 weeks.
If you understood correctly, my bad. If you still find it unbelievable, just know that interns at some prominent tech companies in Silicon Valley can make ~100k prorated.
Read the thread. I'm talking about Barclays.
UofH girl. Just shut up. or should I say CAN IT. You are wrong. 20 people told you so. Allow me to make it 21. Stop trying to hold on to whatever dignity you think you may have left and just leave this site forever. It seems you are trying to break the record for most monkey shit.
Shut up, cheese86. If I cared about some stupid bananas and ape shit I wouldn't be on here. It's just a website, grow up.
UofHGirl, I would love to punch you in the face
What is this "Revenge of the Nerds"? LOL.. You people have some serious growing up to do. I'm not going to invest anymore time on this thread, have fun kiddos.
unbelievable
This thread has definitely gone to shit.
lol
this: "summer analyst position at barclays" turned into this: "This thread has definitely gone to shit."
ive been at work this nice Saturday since 10 (so 12+ hours) pretty pissed...but this cracked me up. UofH, please continue.
It's been looking like a male dominated orgy for some time now, Mezz, so have fun.
Hey Uof H Girl,
There was a girl, on this site that more than held her own with the guys. In fact she dominated them. But you are never going to come close the way you are going about it. I'd back off and track some of Mis Ind's posts to see how its done well. Good luck
i've never been so pissed off about a thread that i had to post a comment on how pissed off i am. i've never posted a comment on wso, but now i have to. uofhgirl you suck.
lol... this is too damn hilarious!!
UofHgirl, you should just understand that we're not flaming you, just trying to give you info because some of the people here are actual bankers or prospective candidates for banking such that they know the market rates and know more than glassdoor and salary.com. If you have questions about compensation or anything else related to banking, i'm sure most of us here are more than happy to clarify stuff.
I have a summer internship coming up and it's prorated exactly the way the other forumers said it was. So one more person to validate their claim.
uofh girl = $cum
uofh girl = $cum
which bank paid overtime this past summer? there was no overtime pay at my firm :( i mean, how exactly do you calculate overtime? does your security card keep track of your working hours?
WOW... that's all I have to say... WOW...
Yes, all Barclay internships are paid. This also made me laugh. You make a lot of money. I've heard it's between 15k and 19k for summer analysts. http://www.internshipking.com/Barclays-internship
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