Does anybody know what is the average compensation for a 10 week summer analyst program and is there any room to negotiate? If so, what can you base it on and how much can you expect to get?
I got an offer with Bear and it would be helpful to know the numbers across the board. Thanks!
You can't negotiate.
Never heard of anyone doing this successfully... IBD is VERY rigid. Other finance jobs give you more room to negotiate, but everything is very standard and orderly in banking. Senior level people may have some room to negotiate salaries but an analyst, especially a summer analyst, does not.
As far as compensation, $10-15K is usually what's expected for a 10-week summer analyst internship.
Be a man, tell them to double your pay or you ain't accepting.
don't negotiate for SA--that's obnoxious
Do you really want to stir up trouble over $1-2k? Save the negotiating for later...
i haven't heard of any SA's successfully negotiating, but i have heard of firms offering more to people they really wanted (lower tier firms that knew the candidate had a top bb offer)
If you have other offers that pay more you can certainly leverage off of them, I assume. I received an extra 3k reloc/sign from UBS after negotiating w/ offers from Evercore/Lazard.
So Bear IBD pay structure works like this:
$12/hr. $18/hr overtime. No bonus/housing stipend.
Isn't this quite low???
That is pretty low. You can get more money working for a normal finance job.
In this case, should I try and negotiate?
That hourly is pretty low, but not horrible - it equates to like $12k working 80 hour weeks.
And is it really surprising that Bear is paying low right now?
$20 /hr $30 /OT
Those Bear numbers are not for IBD!
Bear is paying same as the street for IBD, as always (60k, 2k signing).
naudp, don't post incorrect information.
.
DB isn't paying street. 60k a year prorated but not a 2k bonus for housing. overtime is .5 time but with markets job hours, that won't end up equaling the 2k for housing. is it appropriate to call them up and ask for 2g's like the rest of the street?
I just landed a summer analyst position where I will be paid 16250 for 12 weeks incluseive of overtime. Not bad for a 21yr old.
I would have been very happy to have received any overtime pay at all for my IBD internship last summer. My shop didn't even recognize such a thing as "overtime." Hours were always "as work dictates."
What if the offer letter doesn't state anything about overtime? Nothing about regular working hours, average overtime hours, overtime pay... do you assume the p.a. salary is overtime inclusive, or that they'll tell you overtime pay when you start working, or that it's assumed to be 1.5x?
We're Italian, "WACC" means something else to us.
Most banks do not pay overtime. If your offer letter doesn't list overtime, then you can be very sure that won't receive it. Usually bonuses for FT employees and a good reflection of hours worked/work ethic.
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