Is $20 an hour normal for IB SA?
Accepted an IB summer analyst position at a MM in MCOL state, pays $20 an hour. Is this normal or should I be worried?
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...
Unless that number translates directly to a salary reflective of that number (based on 40hr/week) then I wouldn't be. It's just a summer internship, and you'll be working a lot of hours, so I'd imagine you'll still be ok if they pay you for every hour you work.
For reference, a balance-sheet bank has a $40/hr SA program, BUT this is based on the fact you are generally only "allowed" to claim you work 40hrs/week. So assuming you can claim you work every hour you'll work (and even potentially get overtime for hours worked >40), it should come out to being about the same.
Good points but your comment about being able to claim only 40 hours is not always the case. Was with WF last summer and they made you record every hour - a few extra SA hours aren’t worth lawsuits for not paying interns the proper amount.
Molestias sint aliquam sint ut aspernatur numquam perspiciatis fugiat. Facilis hic dolores quis laboriosam. Architecto quisquam consequatur voluptas.
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...