SA salary is extremely low MM IB
I am an incoming SA at a MM bank, with over 500 employees. I am in a tier 2 city (LA, Boston, Chicago). I am getting paid $16 an hour this Summer. I have friends getting 85k annualized, etc. Should I be concerned that I am getting taken advantage of? Please do not take this as me being ungrateful, I am very grateful for this position, but am just curious if this is drastically low.
I worked for free last summer so this is a BIG upgrade anyways.
Thanks for the help.
Honestly depends. If they are allowing overtime pay you may be taking in more than it seems. Typically they give SA salaried comp (mine will be $15k pre-tax for 9 weeks at a lower MM in tier 2 city) no matter how many hours you're on the desk. So if I break down my salaried comp on an hourly basis (assuming 70-80 hrs/week) that's roughly $21-24/hour pre-tax. So if they allow overtime pay, it doesn't seem that bad.
Thank you for the help.
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