Diversity vs Non-Diversity Base Pay Discrepancies?
Do diversity hired get paid differently as non-diversity ?Context: I'm a SA, I compared my hourly wage (diversity) to a non diversity hire and they are getting paid more than me even though we are basically doing the same job.
Give some context of the pay difference so we can help answer..
What is the pay difference amount? What bank? Are you in same group? Etc..
Hard to answer this question without that information
Don't really want to disclose the info but at a top 10 IB in NYC, same group, both are of us are sophomore SAs. Getting paid $36/hour compared to my peer who's getting $41/hour
Are you a sophomore and they’re junior interns? Buddy no one is underpaying AA candidates if anything diverse candidates nowadays get paid for due to demand
what the hell does "top 10 BB" mean? there aren't even 10 BBs
Wtf do you mean “Top 10 BB”. Lol there’s only 9 BB’s
You were hired on worse / easier standards so you're getting lower pay...I don't see the problem here
If this is IB, S&T or most high finance fields your pay should be the same. It’s standardized. Assuming you and the other person are in the same group.
Would also note potential differences in tax elections / state of primary residence as possible sources for discrepancy. For example, if you live in NYC, you're subject to city tax whereas someone with a primary residence out of state is not subject to NY city tax. If you and the other person feel comfortable, you can compare the withholding items line by line on your paystubs and see where the difference is.
Edit: this assumes identical titles
They pay sophomores less it’s fine man just wait until next year. It’s always been like that
I have both a sophomore and junior year internship with the same firm, but my offer letter for junior year won’t be sent out until a week before I start my sophomore internship (so around late May/June)
Will my junior year offer come with a pay bump ?
Screams BAML
wtf, kids are getting paid for internships these days?! I'd pay to get an internship lmao.
.
Tobin apparently pays federal min wage now
Most internships will pay you
OP needs to step out of that victim mindset and provide more information besides "another summer analyst is making more than me." Have you seen the news lately? Have you heard of affirmative action? Firms are paying TOP dollar to hire and retain top diverse talents. They would not want to lose you over a couple of dollars an hour and risk an entire lawsuit. Use your brain and stop creating unnecessary conflict.
Nobody is playing the victim role. I simply asked if different pay is a thing given that normal hires are usually much more qualified thus they are given a higher base pay.
You haven’t confirmed whether or not you are a sophomore and the other SA is a junior. If so, that’s why.
Is "stop creating unnecessary conflict" the new shut up and know your place dog whistle?
Possible your compensation difference includes a signing bonus or additional individually assigned payment in addition to standard compensation. Difficult to say without additional information.
Diversity candidates get 40k more at one EB in signing bonus.
What the fuck?
What EB gives 40k sign on ?!
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