IB SA Pay Across Street - Question

• 1700 is well above street. Typically it's 60k prorated over the weeks you work.

• 80 Hours a week is on the high end, I would say.

i wish i had an offer...

DaniNo, this offer is at an MM (top 30 Vault) so keep your options open - AND, the best thing about MM's, is that they place you into the group you want if they really like you.

Arcanne, what is the ave. working hours per week for an SA in a BB M&A Group based on people you know/what you've heard? That is the group I am in, I thought it was weird when they told me I would be working 80 a week...who tells a potential incoming intern that...

accidental repost...

80 hours is probably right for an intern. It takes you 30 hours a week just to figure out how to order dinner on Seamless Web.

Don't forget, the first years will try to start pawning work off on you as you become capable. The weird thing about being a summer analyst is that is most cases, you have more leverage with the staffer then the first year (They still want you to not hate your life enough to sign up full time)

I really think 80 Hours were just to kind of prepare you for the worst (but yes, maybe M&A jis a little more intense) They don't want to hire you if you would be scared off by the hours. Internships are filled with events and even a little of them sucking up to you in order to get you to sign up full time, so the hours won't all be spent at your computer. Yes, 80 hours sounds bad... but its one summer, and you are getting paid a shit ton according to your information. Even assuming worst case 80 hours, you would still be making ~$21 / hour.

Thanks, I appreciate the input. Yeah, my weekly SA salary is explicitly on my contract (doesn't vary my amount of hours).

I guess the 1700 includes overtime.. but at least its a good opportunity...

Ling~

does DB pay summer ibd interns overtime???

I don't think DB pays its summer interns overtime anymore. BofA, however, does.

thanx for the advice big unit. im a sophomore though so Im hoping for something at this point

so wait, summer analysts usually work 80 hours or less? This is a big surprise, I thought they would have to work the same as first years.

I've had boutique firms tell me that I can expect 18 hours a day if working there as an intern.

good question: do SAs essentially work analyst hours? i can't imagine that there would be much time-consuming work for them to do.

my friends in banking worked 80-100 regularly last summer. That is more than i am being paid for my SA. IM like 1200 a week and 2 signing

To my knowledge, 1200 a week and 2 signing is standard for all BB firms, save Lehman.

Lehman is approximately 2300 bi-weekly pre-tax and 4000 signing

my friend got a DB IBD offer yesterday. still gets paid overtime. he took it on the spot.

Wait, when you get paid overtime, that means there is a base hourly rate? Weird. What sort of hourly rate do most banks have? For example, if I do average 80 hours a week, make 1700 a week, that ends up being 17-18 an hour (40 norm, 40 OT) not counting signing bonus. That doesn't seem like all that much if you think about it.

Also, re: Lehman, the summer program is 1150 a week with a 4K signing? For 8 weeks, thats 13K, plus can't you ask for your stay to be extended in the middle of the SA program? Btw, I got cut from Lehman 2nd round so don't have any vested interest in the info.