Incoming summer analyst and getting paid hourly, so I’m just curious how much pre-tax comp you guys made as a SA since I feel like the hourly salary could give a pretty wide range of total comp due to the different groups and deal flow. Thank you and pls share.
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Made around 24k pretax over 10 weeks this past summer. 42 an hr for first 40 hrs and 1.5x OT past that.
what were your average hours per week to get an idea?
I adjusted the inputs in my budget for my upcoming SA and his 24k pretax would indicate 8.2hrs/week OT (assuming he had a 2k gross housing stipend already included)
Made about $25k pre tax on a 120 base + 2k signing bonus.
Saved about $5k.
that`s far less than i was expecting to save, curious if this was because you choose to spend more or do you think this is the average to expect when working in NYC?
I spent a lot more. Think $8-$12k was more reasonable based on what gathered from speaking to other interns.
Besides rent and subway how much did you spend per week? I'm thinking food and misc would be 400/week?
Weekdays, I didn’t spend much. Maybe $10-$20 a day. Weekends though I spend several hundred. It just depends on what you want to do over the weekends.
Edit: My weekday discretionary spending was generally limited to buying lunch. My bank had their own in-house lunch every day, but it was pretty sucky, so I and several other interns would just buy our own lunches across the street frequently.
How do they Cap the OT hours? I thought some interns still work crazy hours depending on group?
maybe an EB or some sweaty groups but I think even there its .5OT and yeah that's what I assumed too but than I also read in some previous wso posts that banks dont allow it and my group/BB is not known for extreme hours either so I can expect the same no of hours
I've heard some places have a "budget" for your OT which cannot be exceeded no matter how many hrs you actually work. It's not like we're a super value add so i'm not complaining but would still like to know regardless
Most banks will pay same regardless of hours worked. Only exception I can think of is Wells Fargo, who does pay hourly and does pay OT. This is only for interns though. Full time analysts are paid a fixed income. I have a couple friends who saved more than $30k working at Wells as interns.
I guess that makes sense. They have to woo their interns, since a lot try to re-recruit.
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Congrats on Citi markets - are there only 3 guys this year?
How much are we expected to get back on tax return
46k pretax at a BB
Damn. What were hours like and hourly rate?
High 50s, time and a half OT, hours usually between 70-80
Interned at a bank that pays 1.5x the hourly rate for OT, and it seemed to be frowned up to work more than 25-30 hours/week OT as an intern. Fwiw
What banks are paying 1.5x OT? Every bank I've seen is no overtime provision or 0.5x OT.
$36K at Wells.
What was your hourly rate?
Made $23.5k, including 0.5x OT and $2k signing bonus. Was pulling 80-90hrs a week
Oof
If anyone here did JPM PB SA, can they tell me how much they made? The salary is 100k and 2k signing stipend. 48 an hour, 72 OT
Pre-tax like 31-32k. Post tax was around 20-21k.
What were ur hours and hourly pay
Hourly pay I think was 52.88/hr for up to 40 hours a week. Basically, this equates to a 110 salary on a hourly basis for 40 hours a week. And then 1.5x that hourly for hours above 40. Typical hours were 50-60 a week. If you worked more than that, you still were only allowed to put 60 because HR didn't want us doing more than that.
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