Expected SA take home (pre & post tax)

Based on the most helpful WSO content, here's what you need to know about IB Summer Analyst (SA) compensation at Wells Fargo:

1. Pre-Tax Compensation:

   • Most IB SAs at major banks, including Wells Fargo, typically earn around $40-$50/hour. Assuming a 10-week internship with 80-100 hours per week, the gross pay can range from $16,000 to $25,000 for the summer.

2. Post-Tax Take-Home:

   • Taxes will vary depending on your location (state and city taxes) and your tax bracket. A rough estimate is that 25-35% of your gross pay will go to taxes. This means your take-home pay could range from $10,400 to $18,750 after taxes.

3. Overtime Pay (1.5x):

   • Yes, overtime pay is typically applied for hours worked beyond 40 hours per week. This is a significant boost for SAs, as most work well over 40 hours weekly. For example, if you're earning $40/hour, overtime pay would be $60/hour for hours beyond 40.

4. Other Considerations:

   • Some banks may also provide housing stipends or cover certain expenses, which can further impact your overall take-home.

If you're looking for more specific numbers or experiences, you might want to check out threads on WSO where past SAs share their detailed breakdowns.

Sources: Wells Fargo IBD SA 2023 Gold Mine, 2022 Summer Analyst Earnings, https://www.wallstreetoasis.com/forum/investment-banking/wells-fargo-sa-2021?customgpt=1, SA Return offer rates in this economy, Investment Banking Summer Analyst Salaries 2017