Is this well below street and should I take it? (London)

Hi all,

I've got an intern offer lined up at a top EB in London, but also a few other offers at some BBs for summer of next year. Upon looking at my contract, it all seemed pretty standard with the exception of perhaps the comp. For the 10 weeks, the comp works out to around 8k with no allowance for accommodation, whilst I've heard at other places this is usually 10-12k with accommodation allowance.

Is this normally the case for EB's in London? Should I take this offer which I feel is the best developmental opp in favour of going somewhere for considerably higher comp next summer? I just feel like the difference is quite significant for a 20year old, so any help on this matter would be much appreciated.

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