Expected SA take home (pre & post tax)
Hi, incoming IB SA at Wells.
Was wondering if anyone could share what their take-home was after their entire summer. Also, is 1.5 actually applied? Thanks guys
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Based on the most helpful WSO content, here's what you need to know about IB Summer Analyst (SA) compensation at Wells Fargo:
Pre-Tax Compensation:
Post-Tax Take-Home:
Overtime Pay (1.5x):
Other Considerations:
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
Interned at an EB - took home about 17k after withholdings. Expecting a tax refund soon 🙏🏼
Damn that’s nothing lowkey . What was ur OT
Certain zero OT. Only BBs really have OT, and only a couple of them do lol
Interned at mid level bulge bracket in NYC with 1.5x overtime, made ~40k gross and ~40% of it was withheld since they tax you at the highest bracket.
Post tax expect each check to be from 5 to 7k
If you’re at wells Charlotte your tax rate and cost of living are way lower so you can make closer to 50k over the summer from what my friends have told me.
can you explain why they tax so high. Is it not just taxed under normal brackets?
Not really a tax expert lol but I think it’s just because you technically are earning like someone at that bracket for how much you’re making on an hourly basis, like if you continued to be paid at that rate the whole year you’d be making over 200k a year since it’s hourly.
Once you do your taxes you get a nice refund, so basically you gave the IRS a nice interest free loan.
Again not a tax expert at all
That’s correct. If the IRS sees a paycheck come in every other week, they tax it like you’ll be getting that 26 times a year, and not just 4-5. This is why you get a big refund if you’re a SA and didn’t work outside the internship.
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