Hey all,
Quick question, I have the opportunity to do an off-cycle internship at a small boutique investment bank (10-15 people max) in NYC and I wanted to know what the compensation is like for interns?
I don't live in the city and I need to plan accordingly. What should I expect? I have not been sent a letter or email with any specific details about benefits or pay or anything yet. The initial communication was over the phone with the MD who simply extended an offer.
I searched for this but I could not find anything. Thanks for your help!
I know bonuses are usually less for smaller firms, however compensation is something worth inquiring about. The subject seems to be a gray areas as rarely will a small firm pay the $65K or $70K base currently being offered (last I heard, could be wrong). Keeping this in mind, most interns get paid 80% per hour of base their senior year (and less their junior year, maybe 70% ish), a figure I read of a school website that I don't remember of the top of my head. But, since this is an internship I would not worry about pay too much. Just get the experience first hand. If you make at around 20 an hour, be happy. But if they low ball you come prepared with supporting documentation for salaries.
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