summer analyst sign on pay
what does everyone's pay look like? (including OT and relocation)
my firm is $110k prorated, 0.5x for OT (is that normal)?? 2k relocation
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Never heard of SA being eligible for OT when paid on a salaried, prorated basis. Good for you though. Don’t spend it on stupid shit.
Plenty of firms do this.. thats how WF/Citi interns on 1.5x OT are hitting 40-50k during SA
brehz so is 0.5x not normal... why r they being cheap smh
Dam I got robbed then. What’s the point of prorating the salary instead of just paying on an hourly basis in that case?
california interns also get 2x OT once you hit 80hrs, if you’re at a sweaty group you’ll easily hit 60-65k lol
Does citi pay 1.5x or 0.5x. Hearing conflicting things
JPM said no overtime in my verbal offer but but included 1.5x overtime in the paper offer. Not too sure how that works
2.5k signon for me
do u get OT?
1.5x but only for first week afaik
Congrats on GS
Most boutiques and upper MM shops do 110k base prorated. Almost all shops give 2k-2.5k relocation/signing. Some bulges do OT but most will do 0.5x OT unless it’s in a state that requires 1.5x OT (Cali/NY I believe). To my knowledge MS/GS/JPM will pay 0.5x OT in cities they can and BofA/RBC/Citi/WF pay 1.5x everywhere (but BofA hourly is lower compared to these other firms listed + intern hours cap makes for a lower than street summer)
hmm this is for nyc tho should i ask hr
$2.5k sign on, 1.5x OT
$30 an hour at a BB and idek if I make OT…. No one else has this? Even at my BB?
Congrats on BofA
You’re making $30/hr? I made $35 during my big 4 internship
I think the hourly is misleading here. Yeah big 4 might do $35 an hour but hours are probs around 50-60. Whereas with the IB shop it’s $30 an hour but upwards of likely 80 hours a week. So even though it’s on an hourly basis, the IB shop intently accounts for a higher pay in a different form. Sure you’re getting paid more on paper per hour, but you’re not going to be given the opportunity for more hours.
When do you get your sign on/reloc bonus?
in the offer letter
I meant when does it hit my bank account
5k sign on
What bank? Mines half that, and OT?
Del
Yea this is GS. So you’re telling me we get paid less per hour for every hour worked over 40? Doesn’t NYC require increased pay in OT
Same terms as MS actually
thats what im thinking too isnt that illegal
My suspicion is that it’s just poorly worded in the contract
The idea is that you get the same base as a FT analyst (110k) and that anything over 40 is extra money, even if it was 1$/hr. Not sure why firms dont just prorate the base at that point but I'm guessing its to discourage working your interns 100hrs/wk and getting them killed like before
GS signon for intern is 2500, don't think it's GS
120k prorated, 2.5k sign on, EB
congrats on evercore
110k prorated, 5k sign-on EB. Nothing mentioned about OT
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