Got a ‘27 offer at a MM in NY. Was wondering how much you actually made during summer internships. I know it’s prorated 110000, but I do wonder how much money in total you actually make bc you do it hourly. Thanks!
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If you have a prorated offer you get paid a set amount, doesn’t matter if you work 20 hours or 200. Hourly / OT isn’t a factor. You will make less than peers at banks that pay hourly (and thus OT) wages. Just run $110 / # of weeks to figure it out.
Oh damn, so over 2 months it’ll be around 18k? 😭😭
before tax ;) welcome to the real world unfortunately
I’m going to end myself. Also do interns get bonuses or performance additions? If so around how much? Thanks for your help btw
lol no, interns don’t get bonuses. if you get the return offer you might get a signing bonus (~$10-15k).
There’s nothing holding you back from doing random internships during semester before going FT. I remember I made just around 15K after tax from my SA but wanted more to feel comfortable in NYC and crazy enough it was a Big 4 busy season Audit internship that I did after my SA for fun, and ended up making 25K after tax because of OT. Then did one more internship to end my senior year and had +$50K invested in my portfolio before starting FT. (Parents did pay for rent throughout college but would still have +$35K if that weren’t the case).
Wait I read it wrong. It says base salary for all hours worked 😭 bro im stupid.
You will have to read your individual contract but most will have the pro rated hourly salary up to 40 hours a week (eg 53/hr for the first 40 hours assuming 110 base) and overtime ranging from 0.5x (26/hr) to 1.5x (80/hr) for each hour after 40 depending on company and state.
did your offer include mention of hourly rate or OT rate?
Yes it includes overtime.
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