From what I've heard the workload is pretty strenuous as is and would definitely lead to over 40 hours. I haven't really been told when to clock-in and clock out either. It's a remote position and I'm in the process of on-boarding. My bank appears to offer me OT pay for hours worked over 40. Last year my friend was a Summer Analyst working 60-70 hours a week. I was looking at previous threads and people were also saying that banks paying OT are a huge advantage since you'll end up making like 5-8k more over the summer. Am I expected to log all hours worked and cash in on the overtime? Or am I supposed to be logging 40 and working on projects/etc on my own time for free? This is my first Summer Analyst position and first high-paying internship in finance so I'm not really sure what is expected of my work and hours time-wise. Thanks for any help! After reading more threads some people are saying they get paid half-time for hours worked over 40. Does that contract have the language of something like "OT pay 1/2 of hourly" My offer letter and forms say I'll be paid 44 and 66. So I assume I'm getting 1.5 of hourly which makes sense.
I guess my question is - are there unspoken rules in finance where I am expected to only be logging 40 hours even if I'm working more than that? If I'm interested or looking for a return offer. I know DB has some weird depreciating OT structure and other banks also have weird OT structures that aren't the typical 1.5x so I'm assuming I should just be logging these hours. Should I be going on my own to log these or should I be telling my supervisor I can work on X project it will take me this amount of time. I saw some contracts say you need prior approval before logging OT. Mine has neither of these
Bump. Same position
You should absolutely log your OT hours. The bank will only have an issue with it if you're staying way later than everyone else just for the OT
Thank you for the response! I think someone else chimed in on another thread and said something along the lines of "Check with your Associate and Director for work/help they may need, don't leave before they do. Stay there and provide support for the tasks they need before you even think about clocking out. It'll give you a good sense of when you should be leaving the office." Do you agree with that line of thinking?
Depends, I think a lot of interns go overboard. On one hand, don't just disappear out the back door at 5:01pm (most interns are quite eager and don't have this problem). However don't be the guy staying until 11pm when the associate is just grinding away on something. If people tell you to go home, go home. Don't stay late sitting around or working on personal projects/research no one asked for.
If by doing your own projects you mean dicking around for 4-5 hours a night then no, however if you're working 80 hours a week because you're asked to by your manager, associate, analyst, etc... then go for it.
I believe some of the projects I'll be working on include conducting research and analysis on certain decentralized finance applications and projects etc. It's incredibly interesting to me and I would be enjoying the work so each hour would be productive, but I haven't started yet so I assume it wouldn't be as open-ended as that since I could put tons of high-quality hours in and enjoy it. I think I'll stick to the mindset of leave when your associate and director do, the meaningful work and projects will finish the day when they do. Do you agree with that?
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