How much money did you make as an IBD SA?
Figure this is standard, but my BB firm is prorating a yearly salary and then offering 1.5x OT for anything over 40. Based on an 70 hour avg. work week and NYC paycheck calculator, I projected total wage earnings (after tax) of around 17.5k for the summer/3900 bi-weekly. Is this on par with what you guys experienced?
Also, did anybody actually cook? Or did you mainly eat out and/or expense meals?
At an EB in NYC, pay is fixed with no additional pay for OT. Including the signing bonus of 2.5k, overall comp for the summer is going to be around 21.7kish
Same as you OP -- Will be at a BB in California idk what the taxes are like there
Around $35k pre-tax (can't remember the post-tax number but I definitely got a big refund on the back end). This was the olden days when salary $70k and I got 1.5x overtime. At ~85 hours / week, it came out to a little over $3500 / week.
I was born too late
13k post tax
$85K pro rated base and $10K signing bonus paid at the end of the summer came out to ~$28K
BB or EB
MM
~$50k pre-tax + $2k pre tax relocation
we got $40/hour + 1.5x for hours 40-60 then 2x for hours above 60 (CA OT laws) so it was nice being hourly
CA taxes absolutely f’d me (~40% from each check) but got ~50% of taxes paid in my refund in April
Wells
Yessir
That’s pretty sweet (but I’m sure you got absolutely worked). I know that CS and Citi pay this way too. Did you have to retroactively fill out some kind of document to get that $10k refund in April or does Uncle Sam just automatically do it for you?
Also, signing bonus included, did you walk away with ~$45k post-tax before you even started your analyst years?
I would say closer to 40 all in post tax (before FT signing of $10). And you get the refund when you file your taxes as usual
85k prorated ~1634/week no overtime, post-tax came out to around 5000/month
I got the same. Roughly $1,200 a week post tax.
Sophomore BB intern this past summer. Made ~10k post-tax. That includes the signing bonus, the first 5 weeks paid for 40 hours each and last 5 weeks capped at 55 hours
Interesting. I am also a sophomore analyst. Was the hours/cap structure laid out in your contract?
Only thing was listed was hourly rate and OT. HR later mentioned during the summer about there being a cap per week. This was for summer 2020 during COVID and a remote internship so compensation can be different for SA 21
EB in London: £50k pro-rata, no signing bonus, no OT... This is standard across EB/BB in London...
Same for me at a US BB in London, apart from I think a 1000 pound one-time allowance. So in total 50k pro-rata and 1000 one-time
Intern at EU BB in London. Same package also with a 1000gbp signing bonus
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