How much to expect to work as an ER Summer Intern?
Incoming SA doing ER at a large MM bank in NYC . I get paid hourly (110k base prorated hourly) and get 1.5x OT -- does anyone who has interned in ER before have a handle on what to expect hours-wise? Makes a big difference in my budget for housing if I'm working closer to 40 hours/week vs 60 hours/week.
Based on the most helpful WSO content, there isn't a specific breakdown of hours for ER summer interns in the provided context. However, in general, hours in Equity Research (ER) tend to be more predictable and manageable compared to Investment Banking. While IB analysts often work 75+ hours per week, ER professionals typically work fewer hours, especially during non-earnings seasons.
Given your hourly pay structure with 1.5x OT, if you're working closer to 40 hours per week, your housing budget might need to be more conservative. If the workload leans toward 60 hours per week, the additional OT pay could provide more flexibility. It would be wise to prepare for a range, as hours can vary depending on the team, workload, and specific projects during your internship.
Sources: ER Career Paths, Q&A: 2nd Year Associate at a MM Private Equity Fund, Equity Research SA 2021, JPMorgan Middle Market Banking (MMBSI) details?, Summer Analyst Hours at BB/EB
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