2015 summer analyst pay
are BBs at 70k or 85k for summer analyst pay next summer?
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prorated at 85k for the summer
85k prorated
85k pro-rated also for my bank (BB). Are y'all getting signing bonuses ("relocation stipend")?
yeah one time housing stipend. although mine is the old salary prorated.
Anyone know what San Francisco pay is? I heard summer analyst pay is higher because of some kind of overtime laws in California, but I haven't heard specific number.
For SF: 85k pro-rated + 1.5k one-time housing stipend + 1k travel stipend
bump
How does overtime work? Is the 85k prorated for the first 40 hours (which is roughly $40/hour?
Say you work 80 hours a week, will 40 hours be paid at $40/hr and the other 40 at $60 an hour?
Generally no overtime at 85k prorated. It may be implied that you don't log above 40 hours/week for places that don't get the overtime exemption.
No. You'll be working for less than minimum wage when it boils down to it.
Hmm ok I was asking because when I got my offer, they told me on the phone that overtime was time and half. I saw you also got Jefferies, did they tell you the same thing?
Could someone please explain how the housing stipend works? Is it a cash bonus, so if you wanted to rent outside of NYU dorms you could? Or is it a credit towards your rent at those dorms? Also, what's rent like for NYU dorms / which ones are reserved for summer analysts? Thanks!
85K prorated with 2.5k housing stipend
Mine is essentially 85k prorated for twice a month and a 2.5k relocation bonus.
Same as all the above: 85k prorated, 2.5k for housing.
SA gig: MM IB in NY pays 41$/hr so 85k prorated (1-40 hours), OT at 1.5x
Is that for real? My pro-rated is over 80 hours. FML.
$41/hr as base? That's outrageous. Only 60 hours/week for 52 weeks is $150,000. Not sure I believe that but congrats if so.
They are calculating $42 an hour as if they are working 40 hours a week, not 60. Works out to 85K
Yes I know it's outrageous, but I guess they just calculated base on a 40-hr workweek, and then OT. Analysts told me to expect long hours
Jesus. Congrats on the offer man. Your rate is effectively 2.5x mine lol.
85k pro-rated. 2k housing stipend. Some of the bulge brackets paid no overtime. Some of them did .5x or 1.5x for anything after the 40 hour mark. HR will explain all of this to you during training. I just went in expecting no OT and was pleasantly surprised when I got it.
Mine is pro-rated to 75k, but with a 2k housing stipend and 1.5x overtime. But it's a large, European-based bank.
If the $85,000 is pro-rated to hourly and 1.5x overtime, does that mean I'll make over $3000 per week... Something doesn't seem right about a summer analyst making over $30,000 in a ten week period. That's more than the first year analysts since summers will be paid hourly.
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This is why people hate Wall Street. Interns without degrees making profiles are getting paid $20-$30k for a summer...
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