Will be attending an Spring Week at a top 5 BB in London. I'm curious, do Top tier Bulge Bracket banks in London pay summer interns the same as analyst 1 base salary? Or is it different
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I get 70k pro-rated for my SA internship at MS
In london? Oh wow, what is pro-rated tho? I have spring with BAML, if I convert it would be similar right?
Depends on the bank. Most BBs will pay £65-£70k pro-rated. GS is the exception.
That’s great! One question, what is "Pro-Rated" and hoe that applies to your intern salary?
That’s great! One question, what is "Pro-Rated" and hoe that applies to your intern salary?
Pro rata means you get paid the annual salary applied to the number of actual weeks worked during the summer. Say you get £70k over a 10week SA stint, you’ll get a total of (£70k / 52 weeks per year * 10 weeks internship = ~13.5k). Note: this is gross, so you’ll be paying taxes + national insurance on that.
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