London Internship Pay Low or Average?
Is below £30k pro-rata for a 10 week summer internship considered low for investment banking?
Just curious what average pay is for summer internships this year.
I'm getting paid 60K pro rata so around 1.3K/week, plus a 1K relocation bonus (2nd tier bank)
It's extremely low - though as an intern you don't have any grounds to negotiate unless you have multiple other offers and even then I'd advise you to tread lightly.
If you do have other offers for IBD roles outside of London (think Frankfurt/Paris) for 6 months with similar pay. How you go about talking with HR? For your reference both banks would be 2nd tier, with the shop in London more aligned with my future goals and coverage group.
Should I mention a relocation bonus (not part of contract surprisingly)?
Would appreciate any insights on this
I wouldn't discuss anything with HR unless the pay difference is extremely bad (30k vs 70k). If its just a relocation bonus which is usually 1k, dont bother. Though if you are at a BB you should get the relocation bonus regardless.
Yeah pretty low these days. Like 50% below street but as someone said, you have no leverage and without better offers, you have to take what you get.
I’m getting £45k no relocation
Inside/outside of London? investment bank or independent financial advisor? Could be reasonable but need more information, and as said before any offer is better than no offer if you don’t have alternatives
36k at BB
No way, is it IB?
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