I was fortunate enough to get a SA offer in front-office role in a tough year at a MM think along the lines of Jefferies/Macquarie/WB etc and obviously I would still take it without pay but is it just me or is the pay just really bad this year? I am not in IBD but I thought all the pay in Investment Banking were the same for analyst across the departments.
I will be paid 11/h without housing allowance or signing bonus. I am obviously not gonna be able to do it without financial help from my parents. Is it typical for the industry? I know the normal pay at BBs are 70k prorated plus 2 or 3k for housing.
I appreciate any feedback, thanks.
It's front office and not investment banking in an MM bank? Could you elaborate on what exactly it is your doing?
It's Investment Banking just not M&A. Think Debt Capital Markets or Structured Finance, etc
$14/hr is the range I think. Can I just ask a question: what is the difference between a summer analyst and an intern? Is SA a term folks just conjured up because "intern" is a little demeaning? I never did either, so am curious.
They are the exact same thing.
Though internships at no-name boutiques with zero to no chance of a FT-offer at the end in some regional city non-paid is obviously a completely different thing than a paid-one in NYC with a decent shot at a FT-offer at the end.
SA is an intern. Can anyone who got a offer from a MM or elite boutique contribute?
I was paid $14/hr when i was an SA. My current (different) bank pays prorated analyst-1 salary. Both in the MM.
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