Hi there, could anyone that has went through a SA in London or anyone that has a rough idea give a ballpark figure? Without rent. And by average I mean occasional drinks, no fine dining but no hoarding money on the other hand.
| +130 | If Tik Tok is forced to sell, what banks do you think would be involved in the deal? | 59 | 2d | |
| +49 | Intern Ettiquette | 14 | 15h | |
| +47 | Ranking banks that went under | 34 | 13h | |
| +39 | Relevance of A-Levels for U.K. London recruiting | 29 | 3m | |
| +39 | Burnt Out M&A ASO | 22 | 1d | |
| +26 | What are hours like at BBs in London? | 48 | 20h | |
| +26 | 2024 new grads who didnt get return offers update | 12 | 23h | |
| +25 | NEED NY RESTAURANT RECOMMENDATIONS | 21 | 1h | |
| +23 | PSA to gymcels: focus on the summer internship | 9 | 1d | |
| +20 | IB Career Guideline | 12 | 3h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
bump
There is no hard number.
I opted for cheaper rent that was as close to my office as possible. Other friends paid about 200-225 a week and I felt that was a wee bit excessive.
As for general spending. It's all about preferences, who you hang out with and where you go * Drinks - a pint in the city will set you back about £4..some more, some less. A gin and tonic is anywhere from £5/6 all the way up to £12/14.
Going out - I went out with around 6 guys from my class on a regular basis. An average night in shoreditch will still cost you around £60-80 with minimal drinking and buying a round or two. Don't be cheap. Buy a round as the chances are there is always some guy doing the same. On the other hand youll also end up at clubs that will charge you 20 just to get in. A single shot at these places is £8/10. If you dont end up spending £200-300 on one of these nights because you dont like them, youre saving a lot of money. I would probably have two of these nights a month but even on an average night in these hipster dens where we would go 3/4 times a month and youre looking at £60 at least - a few drinks, a greasy kebab and a cab....
Going out with people from the bank is different. I was fortunate that anytime people from my team went out, theyd invite me out. It comes with the territory so you might spend more. Dont be that guy who thinks that just because he is a student, the analyst or associates will do the heavy lifting. That happened on one of my first nights out. We went out in a large group with 4 analysts and a group of interns didnt dip into their pocket once. After networking sessions, you might find yourself out with other guys from the floor and generally there is a bit of drinking and eating involved. I had some one or two terrific nights with a few VPs and directors and I spent a considerable amount.
As for food, youll generally spend around £10 a day for breakfast and lunch. If youre in ibd, the dinner is on the bank and allowances vary. An average meal at a decentish place outside of work will set you back at least £20. Alcohol in this equation can easily make that £40. I didnt fine dine that much except for the occasional steak at a good place.
Transport - when the tubes stop running, uber is your buddy for the night. I generally found myself spending about £40 a week on the underground. Black cabs can charge the shit out of you.
To give you an idea, I probably saved £2k in total from my internship. My group was social when the time permitted so we would generally go out and have a good night with all the trimmings. If money is a constraint once you go back to school, be social in a different kind of way. Go for a beer or two when others go out after work and have a meal with them. Just skip the clubbing/bar antics after that. But if you decide that you want to make the most of summer with friends and other interns, treat yourself a bit.
Throwing strip clubs and table clubbing into all of this and your spending changes considerably.
AgentSmith, thanks for a thorough overview! So I see it all comes down to how big of a party animal you are. To be honest, I'm not much of a drinker. I mean I like to drink 1,2 maybe 3 beers or drinks but try to stay away from the drinking marathons. Also, I hate big, posh clubs with commercial music, so def gonna skip these. Unless someone from the class is into underground techno. One question arises tho - is everyone really spending like crazy and staying until very late in bars or clubs? I mean if I decide to head home after just 1-2 beers am I gonna be an anti-social outlier or is it all within some boundaries of normality? I don't want it to spill over on how people above me view me as a potential FT candidate. I was hoping to save ~4-5k for vacations with my gf and put a little aside after one friend has told me he had saved 5k. 2000 gbp is not much. Was it down from 45k pro rated * 9 weeks + 1000gbp relocation?
PS. London is an expensive b***ch :D
You would he surprised with the underground techno. Youll might find one or two interns, or better yet an analyst.
Generally, when you go out, youll be in the club till 3. You don't need to drink but it's worth just staying for a bit longer to get to know the team.
I saved about 4k at the end of internship. Went out a decent amount but rent was only 160 gbp per week for me. Transport home at night and dinner are paid for so most of your expenses will be on drinks, rent, and lunch/breaky. Even if you don't drink much, stay at the club with the office and have a good time. Just don't get too drunk because the seniors will take note.
Voluptas sunt qui debitis aut. Et sint consequatur eveniet est. Ducimus voluptas voluptatibus ipsum velit ut ab commodi.
Rerum nemo deserunt voluptatem sunt perferendis. Aliquid veritatis eius voluptas sit. Vero consequatur enim ut dolorum in repellat alias.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...