What's a good salary for internship as an analyst in an asset management firm
Hi all,
I interviewed for a internship as a financial analyst with an asset management firm in New York. However, the salary I am offered is 20000 USD for a 12 week period. The portfolio manager who interviewed me told me that I will interact with everyone in the team. I was concerned about the salary. Is that a standard pay? Please let me know. Thanks.
Regards
It's an internship you should be happy with anything let alone 20,000...
Thank you. My concern is that low salary reflects poor firm performance? Though this firm has over 150 billion AUM. I am not sure what to make of a low internship salary.
The salary reflects that they expect you to come in as unskilled and not very productive, and they want to give you a several month interview, but don't want to miss out on candidates because summer camp or a fast food restaurant would better help pay college tuition. We are monstrously profitable, manage more than that, and I don't think we even paid the Wharton grad school intern with a decade industry experience that we had in my department that much last summer.
$20k for three months is $80k/yr. That is more than the average american family makes, and more than I made in my first job out of college. Consider yourself lucky.
Internships are all about exposure and experience.
I've had unpaid internships at no name firms, only so I can leverage my time there for similar internships at more structured companies.
$20,000 is fantastic, when you consider the limited benefits that you will bring to the firm (sorry, it's just part of being an intern).
Lotta tough guy talk from 25 year olds. Just answer the question or don't. Bunch of triggered peeps you are
I hope this kid is a troll. I would've cancelled your offer with that first response. There's plenty of people that would've taken that internship if it was unpaid. It's an internship.... you want stock options too?
The funniest thing is the OP implying that his $5-$10k less for the summer was some kind of insight into the $150B fund's performance. I was at a $2B PE firm and we had dinners that were $10k.
Everyone else is right, ugrad summer interns are worth negative $ because it takes 2 hours of training for every 1 hour of legit work I get out of you kids. The salary you're paid is a throwaway thought and has nothing to do with the firm's profitability.