IBD Summer Analyst (London) - What salary should I be getting?
Hey, What's up guys.
I was wanting to ask around what region a summer analyst at an investment bank is typically compensated (London, UK).
I am asking as I will be discussing salaries shortly with a boutique bank (not EB - smaller).
I want to make sure I know my worth, and also the fact I am not going to get taken advantage of by finding out what others have been paid in my situation.
I've heard an advantage of working for boutique is occasionally there are better perks than BBs; but this is all of what I know so far. I'm looking to find out how to analyse what a typical salary range is (have checked Glassdoor, only one I'm aware of - unsure of any other platforms).
Could people help me in giving me some of their previous salaries as a summer analyst in similar banks, and any advice in what to assess to ensure I'm asking for a fair remuneration package?
Many thanks.
In London, most BBs £70k with PJT paying £80k (but they suck your soul out of your ass)
.
Thank you. Out of curiosity, what have you heard/experienced at PJT?
To me they are someone who could ghost your applications if you are not SUPER good. They even ghosted my application to one of their events!
In London, most BBs pay £65-70k. However, other banks (Mizuho, MUFG, NatWest, Santander) pay lower, ranging from £50k-55k. Since you're going to be at a boutique, I would not go into salary negotiations demanding 70k.
Go in with a number like 45k pro rata. As far as I know, this is what Goldman was paying their interns not too long ago. Evercore I think pays something similar to interns, and some other banks even lower pro rata for their interns.
It's about knowing the market - you're not going to a BB so you can't demand BB salaries.
.
£70k apparently
https://www.fnlondon.com/articles/evercore-junior-salary-increases-lond…
.
I will take your advice.
I appreciate your comment & understand of course I cannot demand BB salaries; thanks for shedding some light onto the intern pay across the board too. Very helpful.
Since when do SAs get to negotiate salary?
Most seniors with give you a ‘take it and shut up or leave it contract’
If it’s a relatively small boutique expect anything from £40k - £60k.
I'm just wanting to know what a typical offer is so I don't get taken advantage of.
Thanks for your input.
Sorry but this is insane. Never head of an intern getting to negotiate their salary. I understand that you don't want to be taken advantage of, but
... don't expect much and be grateful for what you get.
Not really insane concept to grab a hold of - my main concern is finding a place to stay, & overall budgeting my money in advance, by knowing what I can afford, which I know (roughly) by understanding what people get paid? As mentioned, I'm also making sure I'm getting offered something feasible for the current job market.
I don't get what you're trying to achieve by asking if I'll do it for the money or experience. Who would turn it down for experience if they could do it? I'm just working out staying there.
But, more importantly, who cares if I "did it for the money" or experience anyway - what you going to do if I DID do it for the money?
.
To be quite frank I don't know why you have got to ask "what precisely is my value-add again?" in such a mocking tone. As clearly put in comments above & in my post which explain my rationale I'm wanting to know what to expect + confirm roughly a figure to take to the meeting (if I was to be asked) + budget appropriately from there.
If you have nothing relevant to add - why comment?
It's worth reading my other comments before you do choose to make a snark comment next time, too.
Look if it’s a boutique trust that you can expect something as low 30k. I interned at a bank for 35k, friend of mine for 32k. FT salary then was in line with street but they probably know if you applied and got an offer there you don’t have a GS offer on your plate
So don’t try and negotiate anything. IBD SA especially provide very little value, you’re literally only there to learn a job. Just put your head down and work and accept whatever they give you unless you wanna look bad
If you have to give a number (but I doubt) aim for 40/45k
Just to put things into perspective, I got a few offers and the salaries were
35,45,50,50,60
so yeah except for BB / most EB which pay pro rata A1 it can vary a lot
Thanks for your insight - your comment has really helped put things into perspective.
I'm honestly not looking to negotiate as these opportunities are hard to come by as is - mainly just looking to make sure it's a fair comp (compared to other people's experiences) + wanting to budget in advance by understanding roughly what my salary expectation is.
I just wanted to have a figure in mind (pre-meeting) for if I was to be asked, because I don't want to be then throwing the question back over to them and going back and forth.
Fair enough
good luck with the internship!
wait... you guys are getting paid?
I'm at a MM firm this summer: Pro-rata 42k, AN1 rate is 65k so I am probably being fucked over a bit but can't really complain still fine for an intern.
Thanks for the input - sounds a decent wage to be on. Best of luck with your internship!
65k???
what bank?
Most MM banks are probably around that rate +-5k nothing special.
In my first internship I was getting paid 12k at a regional bank (no shit). Now, I get close to 60k at a BB. Remember: you are not doing it for the pay but the experience.
Sunt consectetur qui sunt unde fuga molestiae. Quibusdam neque qui perspiciatis maiores animi. Dolor dolor temporibus quidem consequatur molestias illum. Esse dignissimos fugit in in itaque. Velit magni quia non ea occaecati molestias impedit. Ullam dolorum provident magni explicabo expedita.
Magnam perferendis voluptas voluptatem delectus. Esse harum expedita accusantium exercitationem ullam. Pariatur soluta sit voluptatem ut nihil maiores. Sunt et eveniet nam assumenda velit tempora.
Reiciendis quod est magnam rerum suscipit dolores ut. In quis cum voluptatem eius ut ipsum aut dolor.
Corporis et rerum fugit quia iusto. Harum tenetur unde qui eligendi. Aut ullam nihil ipsam omnis doloribus libero modi.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Iusto ex est nihil dolor vel enim. Qui consequatur blanditiis quidem molestiae. Enim repellendus et eaque animi et consequuntur. Optio quis ipsum pariatur sed ut quo. Eius iure non ut rerum exercitationem et. Ipsum enim illum voluptatem rerum distinctio expedita.
Dolorum ad laudantium commodi laudantium nisi officiis. Maiores vel aut fuga laboriosam neque. Ab molestiae non repellendus nisi.
Voluptatem aliquam iure consequatur expedita et et vero. Architecto voluptatum voluptatibus quod possimus in quo et dolorum. Veniam necessitatibus totam nulla ut. At ut dignissimos asperiores et quia quo voluptas. Ut assumenda laudantium atque quasi. Eum error sit assumenda architecto. Laborum nemo asperiores quos sit eos quaerat. Quae beatae est dignissimos temporibus dolore in.