Top tier BB internship compensation
Hey guys, just curious how much do top tier BBs pay for their interns per month, i heard the number is around 1500 a week, but just wanna confirm
Trending Content
| +196 | 2nd casualty of BofA, 25 yo credit trader | 63 | 5h | |
| +162 | Associates not checking my work and getting mad at me? | 35 | 1h | |
| Am I insane? (NEED ADVICE) | 60 | 2s | ||
| +84 | the new "email template" | 27 | 5h | |
| +79 | How Much Parental Assistance Do People Actually Have? | 33 | 3h | |
| +56 | Fitness vs Traditional Watches (in Office) | 33 | 3s | |
| +56 | Is it appropriate to take time off after a breakup? | 21 | 15m | |
| +53 | Why are UK, UK based and UK-countries related (India, Nigeria...) students so cringe on LinkedIn? | 18 | 33m | |
| +51 | How is Northwestern? | 15 | 14h | |
| +49 | Analysts bitching on WSO | 9 | 2h |
Career Resources
a friend at goldman is earning 1200 i believe.
Ya, something like that. It's nothing to get too excited about.
I have a friend who is making 2000/wk, but that's highly, highly unusual.
You get $60,000 pro-rated for 10 weeks... It comes out to around $1152/wk
You also get a $2000 signing bonus of which 44% is taxed...
New York tax blows
damn..1152/k thats pretty dirt cheap considering the amount of hours you have to work...ummm
Ya, that sounds pretty low. I'm not sure what firm others work for, but I personally get $1250/wk over 10 weeks without tax {international banking benefits).
Ouch. That's even worse than London tax.
Do these internships also provide a place to live and food for the day?
signing bonus? I've never heard of a signing bonus for a summer intern. There's a housing stipend, but that's not a signing bonus. Also, different banks pay different rates. Some banks pro rate at 65k, some 60k, and maybe some other banks pro rate at different rates...though the highest I've heard is 65k.
Also, what does your friend do that he's making 2000 a wk?? I call BS unless proven otherwise...
And yes, I'm a summer intern at a BB so I'm not just KJing.
how does the tax work in hk (if i'm a US citizen)? i know that there's no withholding for my salary when i'm in hk. so when i return to the US after my summer internship do i still need to pay the tax on my summer wage in hk?
if you are a citizen, then yes you do otherwise no.
i agree with dan2k,...2000/week seems a bit off for me especially with this kind of market....1500 is the highest i have heard so far..
My roommate in BB Ops is compensated $25 per hour plus .5 overtime rate. Works about to about 1000-1500 depending on hours worked (60-80)
Just to clarify, that's every hour after 40 is only $12.5.
and these figures (1000-2000) are per week?
hm, I have a friend working at a BB in Singapore making 750/week, considerably less than 1500...
That is pretty low even for Singapore. It was US$60k thereabouts pro-rated on the old exchange rate, but with the depreciation of the USD it works out to be >US$1.5k a week. Non-tax residents are taxed at 15%, and tax residents are tax-free till $22k in a year is reached (which should mean a tax free internship). Very favorable tax treatment.
I've heard ML IBD interns in London make £850 p/w, which is pretty ridiculous Disclaimer: this could be hearsay
CS San Fran. pays hourly, so it'd be quite feasible for an intern to walk out with 20K.
$1200/wk plus a housing stipend for an intern who adds no value and has no real financial responsibilities sounds pretty good to me. Dunno what you guys are complaining about.
Don't get me wrong -- I want to make a shitload of money. But it's funny hearing people who aren't even in banking yet say things like "1152/wk is pretty dirt cheap" as if they have so many better options.
Nam itaque ea qui reprehenderit vel. Officiis dicta at autem commodi atque id ut. Quia rerum rerum esse reprehenderit rem omnis numquam. Commodi blanditiis velit nihil laborum.
Labore quia sit rerum eaque quod doloremque. Vel dolorem impedit sit rerum. Repellendus accusamus hic aliquam et rem repudiandae.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Cum corrupti voluptas iusto. Facilis voluptas voluptatem et eaque nulla explicabo. Non repellat iure eos totam. Voluptatem in officia explicabo. Aut voluptatibus laudantium ut ut dolores.
Illum voluptatum ullam a sed. Aut nobis itaque voluptatem quis consequuntur et. Esse aspernatur quia earum dignissimos et impedit voluptatem.
Quis est nisi voluptatem consectetur et aliquam velit. Ut ut praesentium dolores excepturi nobis. Officia quis incidunt aliquid laudantium sint quibusdam sit. Maiores illum et quod in. Dicta quis occaecati fugit ducimus. Et perferendis atque dolore aliquid. Unde aliquam rem omnis et quo atque dolorum consectetur.
Officiis eum et quia voluptatum non. Assumenda ipsum corporis fuga. Quaerat dolores ab esse nam repellat quo. Dolores cupiditate minima aperiam voluptas dolorem quia ut. Necessitatibus vero eum veniam ducimus quod et labore totam.