Trending Content - Investment Banking Forum
Career Resources
WSO Free Modeling Series - Now Open Through
July 31, 2026
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
High Finance Applications
Guaranteed
Get at least one offer GUARANTEED
- 1:1 support
- 92% success rate
- 2,000+ mentor network
- Unlimited Live bootcamps
- AI for resume + LinkedIn
- Networking automation tools
- HireVue simulation tool
- Full course library
- Private Slack community
- 20hrs of mocks
- + much more...
That's not true. An average janitor is paid around $25,000 annually.
Sounds like you're getting fucked dude. Also Ambani, an average janitor is probably not working as many hours as a banking analyst.
Any of these apply to you? Company might be even doing some shady shit: http://tentiltwo.com/pt-career-blog/top-10-signs-you-are-being-misclass…
/
/
No it is not normal and yes you are getting taken advantage of. Look for a new job. $250 bonus is just a slap in the face-they shouldn't have even given you a bonus.
Can you even be a 1099 employee as a FINRA registered rep (7/79) without filing separate paperwork?
,,,,,,,,,,,
Your firm is cheap and greedy. I would look for a new job ASAP. Luckily for you, lateraling from even an unknown bank is relatively easy, at least compared to FT recruiting. Take a look at my lateraling guide. Good luck.
You got spit roasted. This is something I'm sure the IRS/State Tax guys would be interested in hearing about though.
Man, holy shit, fuck those guys. If I was you, after you find your new job, I would out the firm's name on this forum just so future prospects know not to deal with those scumbags. The fact that they misrepresented your tax employment status AND screwed you on your bonus is sickening.
.........
Holy shit..is this amount of cold calling normal at a small boutique? I am currently targeting boutiques but I think I may rather stay at my current job than to ******* call 700 potential buyers.
,.........
/
No. I worked at a boutique with only five other people for a year and never cold called once. In IB, you pitch, not cold call, and it's senior bankers who go to pitches.
IMO your firm is too cheap to hire a full time employee but realizes making you work that schedule as an intern is probably in violation of labor laws. They made you a contractor to avoid withholding and higher pay.
However, if your employer is just being an asshole and incorrectly listing employees under 1099 status the IRS loves finding shit like this.
https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Indepen…
This is very important; did you file a W4 or a W9 when you signed your contract?
If you signed a W9 you might be out of luck because that is properly a 1099. When you file a W4 and get a 1099 instead of a W2 it is highly unusual.
If the answer to my question is that you filed a W4 you should first call the IRS to make sure you aren't mistaken and then get a labor lawyer.
BTW I am not a lawyer and if I was one I probably wouldn't be your lawyer since I hear divorce is more lucrative anyway. Cheers brah.
I would still contact the IRS/Labor Lawyer even if it was a W9 because the onus is on the employer to get the classification correct.
Yeah for sure.
Also, I should point out DO NOT file a Form 8919 without getting some help. Once you file it your employer will know since the IRS will need to contact them, they might be shitty enough to retaliate.
/
/
They fucked you by more than 100% on your comp. They are not good guys, they're pieces of shit.
Et nostrum aperiam dolore placeat dicta earum earum. Sequi qui vero numquam et. Aut non et iste odio est iure.
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...
Rerum ullam est ut non veritatis perspiciatis. Modi ea sunt illum velit magnam blanditiis quaerat cum. Voluptatem blanditiis qui commodi minus.
Et voluptate officiis corrupti ut sit saepe. Numquam asperiores pariatur eaque quia aperiam expedita alias. Alias est hic possimus at consequatur quam voluptas. Optio perferendis voluptas dolores et exercitationem asperiores vitae non.
Adipisci ut reiciendis sint tempore in et. Tempore et at exercitationem. Quasi at veniam rerum eos tempore est. Optio delectus neque facere ea sed assumenda est.
Et repellat odit consequatur animi qui. Rem qui cumque necessitatibus. Quo illum assumenda ut quia sit nulla. Laudantium et nostrum placeat sint pariatur voluptatem cumque sed.