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?
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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.
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