Summer 23 Intern Pay
Hey everyone,
I’m a current junior at a non-target school planning to do ECM next summer in NY. Accepted an offer a few months ago since I didn’t want to risk it being the only offer I got. Set to make ~30/hr + overtime (1.5x) based on an annualized salary of 110,000 (assuming I work 60 hour weeks).
Is this standard or is it very low for ECM? I know it isn’t classic IB, but still seemed awfully low compared to others I know.
Just looking for thoughts, thanks!
Would like to add this is BB
This is standard. My BB paid the interns exact same salary over the past summer
Sounds like BofA, pay is standard across Capital Markets and Classic IB. Will get hard-capped at 65 hours/ week. Comes down to what’s more important to you: culture or comp.
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