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$$$$$0, at least many no name boutiques do. Or they will offer a discretionary bonus upon completion
What if the firm is doing pretty well; like, deals totaling $billions, bunch of highly experienced MDs, located in Financial District of Boston, etc.
^^^ question was re: MM banks, not tiny boutiques.
OP, generally they'll pay pro-rated base (70k annual), and often some kind of signing and / or relo bonus which is small, like a couple grand
So if I am working for, say, 14 weeks. Can I safely assume around $15-20K for the summer?
Sorry, I had assumed he was still in the search process or about to receive an offer because at this point, most of the MMs that pay the pro-rated recruited around the same times BB did. But I guess if you made a good connection and someone dropped out, then you may be able to get an internship with a legit MM
Thank you all for your responses.
Offer from top MM, 70k pro-rated. So no signing bonus, relocation support, or overtime, but basically just 14k
$20/hour + 1.5x OT
What is OT?
Oh! Never mind! (over time)
Doubtful a MM will pay an intern overtime.
I'm speaking from experience.
10 weeks, 70k prorated, no relocation or sign on bonus.
I made over 18k during summer. The longer hours you put in, the more money you make.
Depends on how much deal flow they are pulling in.
OT is overtime Ambani
Thank you!
When you refer to a MM IB, are you talking about a firm like Houlihan Lokey or a firm that few people have heard of. An internship with a boutique that advises on middle market transactions can still be unpaid
Nope, it's not an elite boutique like HLHZ/Greenhill, though it is pretty big; deals totaling $billions and located in Boston Financial District.
HLHZ is not an elite boutique..
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