I got my offer next summer nyc bofa and the pay is low 30.22 and 45.33 overtime per hour. Why do I feel like this is low. What bank and whats the pay, this is for 2023 btw
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like wasnt dudes making 40 an hour plus ot
bumb
xxx
nah most banks are 110k prorated, even CS just bumped
At BofA this summer and we are prorated off 110k for IB
What is that hourly for you because me and my homies at Bank of America finna start protesting and move to Barclays and Truist and shit
Goldman IBD pays 85k prorated + 2500 signing bonus
Its funny because thats less than what they pay back office interns.
Wells Fargo IB is $40/hr and overtime $60/hr
What’s the prorate on. Like that’s crazy wells is paying that much
Wells is one of the last big banks to pay an hourly rate like that + OT, at this point all banks pay a prorated rate of base analyst salary. So your BofA SA pay is normal, and should be plenty to get you by during the Summer.
so you suggesting fuck bofa, apply wells, reneg. because as a banker i need the most money possible and while people might say you should have went centerview they getting no deals once this recession kicks in
My bank just switched from prorated to hourly—> about $41 an hour, 1.5x for overtime (anything over 40 hours), 2x for overtime above a certain threshold (I think like 60 hours plus?)
Truist is $48/hr and $72 overtime.
This got to be 🧢
https://www.wallstreetoasis.com/forums/truist-pay-bump
Second page here.
.
I think all BBs are 110k prorated at this point for SA22, comes out to 52.88/hr and 79.33 overtime
Also which bank paying that much. Should I be worried of these cheap fucks
To my knowledge, all banks that have first year analyst base of 110k are doing that prorated for summer interns. I got an updated offer letter two weeks ago with raised pay from 100 to 110 prorated
GS @ 85K prorated still...
This is the correct answer. Working at a NYC BB SA and my offer letter for this summer updated to those same numbers
$52.88/Hr and $79.33/hr OT at MM
Yea fuck bofa lowkey, might have to reneg if I got another offer. Bofa assumes 60 hours in the prorate
Yeah High key this thread making me consider going for another offer
What division are you
Imo this way of thinking is very short-sighted. If u look at past pays for AN1/AN2, BofA has historically paid well. According to my connection at BofA, last year base was 110k with bonuses 70-90k. Of course this year will be lower, but to put in comparison: Citi pays 110k pro-rated, OT 1.5x SA 2023. Bonuses last year suck (on average 10k less than BofA). DB pays 100k pro-rated, OT 1.5x SA 2023. Bonuses last year were lower than BofA. Don’t fall for the trap that banks try to create for interns. They may pay interns very well, but when you’re AN1/AN2, the pay will suck. Plus, look at the league table, talk to people, look at exits before trying to decide your internship based on a 10-week pay.
I’m in lev fin so under gcm idk about coverage groups under cib
CVP and MOE is 110 pro rated.Lazard is 120 pro rated.
So how much is the expected summer earnings over 10 weeks and what is that hourly. I wanna know if I’m getting ass fucked and should start pulling in my network at Barclays
Bump
PJT is the same as Lazard (120k prorated) which comes out to be 25k for 10 weeks
JPM CIB next summer. Training period is $38/hr + 1.5x OT. 80k prorated after, plus 2500 bonus. LCOL
Don't think that is low at all. That is pretty much on par. Headed to JPM NY SA 2023, 110k prorated for the 9 week internship.$19k for the 9 week summer. $2.1k/week. 70 hour week = $30 an hour.So yeah that seems pretty standard. Although I'm pretty sure my OT pay is like $78 or something. Don't know how overtime is calculated.
Yea plus who the fuck is recruiting right now. I got hella hype when I got into one of the best lev fin groups, but hey man can’t win ever battle
BofA hasn't started group recruitments yet. How do you know you are in the Lev Fin group?
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BB IB pays 110k prorated at 53$/hr then 26$/hr for overtime. Are most BB supposed to be 1.5x OT pay or .5x pay?
Usually 1.5x OT but I think MS or GS does some cheap skate shit
OT rates are based on state laws not bank policies
Need clarification…GS still prorated 85k?
And .5x/Hr OT or 1.5x?
Yes and 0.5x OT
2023 MS is 36 with 1.5x OT not much better
P72 academy is 125k prorated + 5k signing
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