SA comp - is this normal for overtime pay?
Getting a fixed base pay (for 40 hours) that ends up being a pretty good per hour wage ($40-50). However, the way overtime is structured is basically taking base pay over the total amount of hours worked, multiply that by .5, and then multiplying that by hours of overtime. Effectively end up making $10-13 an hour in overtime pay if I work 70-80 hours a week. Assumed it would be 1.5x...this seems crazy low. Is this the norm for banks that don't do prorated?
This is what I'm getting at a bank with prorated. 0.5x is pretty typical for any place other than California I believe. They don't want you making more than full time analysts lmao.
The bank that I am working at in the summer is doing (30 - 40 $) per hour plus overtime pay which is 1.5 I think, so not sure whats up with your pay. I have heard MS to do .5 overtime as well, but other than that unsure
Have the same thing. But to my understanding it’s .5 your normal rate * number of overtime hours worked. So more like $20/hr. Not sure what you meant by $13/hr.
The way mine is calculated is taking the weekly rate and dividing that by total hours worked (70-80). That’s why it ends up being $13 or so
Are you sure? Seems incredibly off
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