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?
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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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