0.5x Overtime is Criminal
How is this legal in NYC? Half pay for all overtime hours?
What is this ?!?! My cali counterparts are making 1.5x OT and 2.5x OT for +8 hours worked in a week.
This is ridiculous
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You're that worried about comp as a summer analyst? Talk about short sighted...
Im mad that I’m getting paid less to do the same work. I guess I should have gone to cali.
I think you're actually just humble bragging that you got an SA, actually.
You get overtime?
Relax man, you will be making more money than the average American anyways. Additionally, interns really do not provide as much value as you may think. Focus on personal and professional development and secure a full time. You won’t be getting OT during full time too
Yessir that’s the plan, guess I’m just salty I went to NY instead of LA of SF.
you're going to be going to team dinners and walking around getting coffee with your team. You are going to do no actual work.
Idk where you interned at, but all my previous internships have been slaving away at the computer. Don’t say we are sitting on our asses because we do comparable work to an analysts work. May not be perfect but I’m doing all the bitch work you’re too lazy to do.
Only really went for coffee when an Associate, VP or MD would invite us, which isn’t a regular occasion. Besides a couple “check-ins” with my mentor I was always at my desk. However Im always very enthusiastic and social in the bullpen which I guess has helped me network
If that's how you went through your previous internships, no wonder you're doing another one right now because that's NOT how you convert to full time.
this is the cringiest comment chain ive seen on this site
This may be reflective of how your compensation experience could look like as a FT analyst. Despite working longer hours and more diligently than other analysts, your pay may or may not necessarily be reflective of the additional effort.
Example: Analyst A works in Restructuring at an EB, and he is top bucket. He receives the most and best staffings but averages over 90 hours weekly for his entire first year. But at year end, he realizes his total comp was only $20k higher than that of his roommate, Analyst B, who works in a MM group and was ranked in the bottom half of his class and only averaged 55 hours per week doing mindless monkey work. However, the MM Analyst spent significantly more time interviewing, partying and sleeping (with women) than his roommate and secured his buyside offer early on.
The MM analyst continues to coast into his second year while his roommates soul decays from the prestige of being staffed on 3 megadeals while simultaneously spending all his free time recruiting for PE. Fortunately they both land good offers in LMM PE.
Good offers and LMM PE shouldn't be in the same line
Says an intern lol
excuse me, this is 2023. the MM room mate could have been sleeping with men / non-binary / poney identifying etc etc persons. not just women!
Aren't you funny? You should become a comedian.
ik its a joke but pretty unrealistic outcome if you ask me
I spoke with a SA at FT Partners and they told me they were paid $110k pro-rated non-exempt, meaning they weren't given OT.
So they don't get the $140k analyst base? Interesting.
Also, I think exempt means you don't have to get OT while non-exempt means you do.
Can confirm FTP SA doesn’t pay OT
Did they bump to 110? Last summer we were 85 with 0.5 OT
Assume you’re talking about GS. Still 85k and $20/h OT.
Overtime rates?
What is this, union work now? When did Wall Street Oasis become Main Street Oasis?
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