Overtime in SF
Do all banks provide overtime in SF for summer analysts? How do you know if your bank does as the offer letter I received only says the salary prorated.
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Yes you log your hours. After 8 hours the rate is 1.5x pay and any hours after 80 for the week is 2x pay.
for all banks in sf? or just some? and is this true for ever offer letters that just say comp is prorated?
Can’t say for all banks but this was at my BB that only gave a prorated salary in my offer letter with no mention of overtime. California labor laws require this though (look it up) so it should be standard if you’re at a BB (maybe boutiques can get away with paying less idk)
Yes if you're hourly. It's actually 1.5x 40-60 hours and 2x 60+ hours, so you'll make at least 40k if you're working on a prorated hourly wage and 70 hours on average per week.
Wasn't the case for me. I just finished my summer internship at an EB in SF and we only got the prorated salary. They never even asked us how many hours we logged at any point during the internship.
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