Overtime / Hours?

As a summer analyst, in my offer letter I was told I get paid hourly, with overtime 1.5x the amount. Assuming this is a good thing since the hours are crazy, however, does this also mean that I will work less hours than the average banker on the street interning at another MM firm. Also, for context, I was told that I would work  "~55hours", I'm also assuming this is cap, but curious on what others input on this is?

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