SA2024 Compensations
Curious and just wanted to see what 2024 SA comps look like. Feel free to share (prorated, hourly, overtime, etc) - location and size of firm would be helpful.
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Dallas
$105k pro rated for 10 weeks.
MM (I think)
.
Yes
Is this coverage?
Yes, this is coverage.
NYC
100k prorated, MM IB
not sure about overtime
NYC EB $120k pro-rated + $2k relocation bonus.
No mention of overtime
This has to be laz or EVR. Jesus that 120 is nice
Nah EVR has 2.5k signing
By prorated do you mean what you would make in a full year (56 weeks?)
I’m sorry, how many weeks?
...
...
2 things
Pro rated means that he gets paid what a FT analyst gets paid but just for the portion of time they work as an intern (roughly 10 weeks)
A full year is 52 weeks, not 56.
By prorated they mean what an analyst would make in a year, yes. (13 months)
Yea
56 weeks in a year?
This is same as Roths
MF
Major City
100k pro rated + 2.5k signing bonus + 1k relocation bonus
NYC - Upcoming EB140k prorated
Hmm I wonder what this is… lol
Probably cvp or pjt innit
better not be FTP lol...not an EB
.
bruh seeing these make me feel bad, I didn't get any relocation or a sign-on bonus. Are those normal for SA positions?
Don't feel bad, all that matters is that you are happy, you enjoy your group's culture and have a great summer. If you spend your time comparing compensation, banks, prestige, etc. you will never be happy with the current situation you are in. Be happy from within.
Very wise, thank you I will try to adjust my mindset a little bit
I signed with a MF for SA2024 and got no sign-on bonus. I think it's fairly common.
Charlotte
110k prorated.
“Travel Expenses Assisted” whatever that means lol. Technically, will be flying from another country so would be nice if they cover all that haha.
By prorated, do you mean the amount of what you would make in a full year (56 weeks) instead of just over the summer?
Man just added his own month in lol
Did I miss the update where we went from 52 to 56 weeks in a year?
Yes. There are about 52 weeks in a year btw
Just a note on overtime - Labor laws require overtime for someone making an hourly salary AND/OR below 48k a year (somewhere around this number). If you are getting paid a prorated salary over the summer, you will not be paid any hourly OT rates.
https://www.dol.gov/agencies/whd/fact-sheets/17d-overtime-professional
Looks like it’s $684*52 weeks = $35,568 per year as the minimum?
So how would overtime work then? Mine is prorated 80k but I also get overtime, so I’m a little confused lol
NYC
MF 110k prorated, no relocation or signing bonus
NYC EB
4.5K Signing Bonus
110K Base
Sounds like PWP
Yup
no overtime?
IB NYC
35/hr and 52.5/hr for OT. 2k signing bonus.
60 expected hours per week based on what they told me.
WF?
Nono it’s actually a boutique. But it’s for this summer, not 24.
I also got WF with hourly rate; it seems like an insane amount of money because OT is anything above 40 hours and 1.5x pay... am i missing something?
~$2100/week for 10 weeks in MM IB Chicago
NYC BB around $50 an hour
Made 38k before tax
How much was after tax?
24k
Do firms actually stand by paying SAs overtime pay? How is it tracked?
I don’t know about other banks, but my offer letter said we get time and a half for overtime.
mine too
120
where?
has to be PJT M&A. Buddy went thru div program and got those numbers lol
NYC EB. 110k pro-rated. 2K Housing Stipend.
Point72 135k pro rated, 5k signing
I'm confused because my contract is a salary pro-rated, however they include an overtime clause stating we will be paid 1.5x for anything over 40 hours and that they will inform us how submit hours during orientation. Any clue on what I am actually being paid? lol
Me too, I had the same thing mentioned and I am not sure what it means
Likely on an hourly basis. My contract has nothing specifying hourly pay. I work 80 hours I make a salary. Hourly should be payed based of hours u work in the week.
Some banks operate differently, I have a buddy who got a pro-rate and then someone else who’s contract was hourly.
I’m not 100% sure on it, but that is my understanding.
Is this RBC?
yep
same lol… as per my calculations should be making about ~45k pre tax but that sounds too high
same lol… as per my calculations should be making about ~45k pre tax but that sounds too high
Overtime is paid for all hours above 40. The rate is calculated by taking the weekly salary rate divided by hours worked then half that rate. The rate does decrease the more you work. Included an example
Pro-rated Salary: $100K
Weekly Pay: 100/52 = $1,923
Hourly Pay at 40 hrs: 1923/40 = $48.07
Total Pay at 40 hours: 48.07 * 40 = $1,923
Hourly Pay at 60 hrs: 1923/60 = $32.05
Total Pay at 60 Hours: 32.05 * 60 + (32.05 / 2) * (60-40) = $2,243
Hourly Pay at 80 hrs: 1923/80 = $24.04
Total Pay at 80 Hours: 24.04 * 80 + (24.04 / 2) * (80-40) = $2,404
If it decreases the more we work why do they specifically say it will be 1.5x for anything over 40?
Barclays NY, 110k prorated over 10 weeks w 2k relocation
overtime pay?
Del
Atlanta
Credit side of a BB
75k pro rated + 2k signing (housing stipend)
--> $36.06 per hour for 10 weeks
$150k prorated, EB SF
Can you name drop the bank? Not sure if this FTP and they increased base or Q, Cos I know evr is at 120.
FTP dropped to 100k prorated for SA I believe
$110 K prorated for 10 weeks, $5 K sign on bonus, NYC, lower tier BB
BB's offer 5k for relocation? Thought it was 2k or 2.5k as standard?
BB NYC
110,000 prorated hourly over ten week ($55/hr) and overtime 1.5x (~80/hr)
2k relocation bonus
BB San Fran
$100k Prorated 10 weeks hourly
No sign on or relocation bonus / stipend
1.5x overtime (~$72/hr)
2.0x double OT(~$96/hr)
is this DB or RBC?
DB
Any idea on MS NYC?
110k base salary with 0.5x OT, 2k housing
Strategic Finance Intern @ FAANG
100K prorated 12 weeks hourly
9K relocation + housing
1.5x Overtime
dang that's nice. is this on the west coast?
Chicago
SF/Palo Alto/Menlo BB
110 pro rated + 2k signing bonus + $78/hour (8+ hours a day) + $112/hour (12+ hours a day)
NYC $52/hour $79 OT
IBAB
NYC 52 hour 80 overtime. If my calculations are right this would be 40-45 grand over the summer. Can someone confirm?
yeah is this ms or citi? or wells?
yes one of them. is it actually 40/45 grand?
Sounds like wells
Chi MM 110k prorated + 2K signing
BB NYC IBD, 110k prorated and 2k signing.
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