Wells Fargo recently announced a pay increase from $40hr to $53hr
Potential Payout
Regular Pay: $53hr * 40hrs= $2,120
Overtime Pay: $79.50hr * 35hrs= $2,782.50
$2,120 + $2,782.50 = $4,902.50 per week
$4902.50 * 10 weeks = $49,025
Signing bonus: $2,500
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Here I am at a top BB with $85,000 prorated salary. WTF
Was the "top BB" necessary? we get it, you work at Goldman. they literally hate their employees and are the only ones pro rating to 85k lol
Why so salty, you should know ppl on WSO are obsessed with prestige
You should be getting paid hourly with overtime too tho
Any WF interns able to weigh in on how many hours you can actually record? What’s stopping you guys from logging 80+ hrs every week?
There’s not really any stated limit. Though if you’re staying there until like 1am every day someone might start to wonder what you were doing during that time (although I have no clue who actually verifies the hours)
In my experience you can sit there until 1am refreshing your inbox and log all the hours in and nobody will question you but you’re probably going to drive yourself nuts doing that
Sounds like a great way to power through books or FT recruiting prep (for those who might want to).
Work about 60-80 depending on the group. That calculation is useless tho because there are a lot of nuances like a 15% kicker after 8pm and Uncle Sam taking away 33%
yes you are right.
Is this accurate? I understand the base 40 hours but are interns expected to record 35 overtime hours?
Know a guy who got 33k post tax last year, so I believe it.
Over 52 weeks this’d be 250k. Too bad FT is salary based
Current SA at bank that has pays 110k prorated already. I can say that you’d think this is what you get paid (I was excited thinking I’d make $45k+ this summer) and then you realize that you get hit with 38% taxes and it averages out to like 35-40/hr…
I’m 120 prorated and making that as a salary. I think Wells is the only bank to pay interns hourly.
I thing MS is hourly.
38% taxes at that income level can’t be right. Might just be withholdings. I’d expect to get a chonky tax refund.
Lol $255k base prorated
Have a buddy who was at Wells last summer in a sweaty group working 85+ hours a week. The only verification that I believe is needed is that you were active on Skype or sending emails until the time you listed. Wells interns make a lot of money.
Hey if you don't mind me asking, what group was it?
Yes, but would you really exploit this loophole of aggressively billing your company when your return offer is on the line, especially in this kind of economic climate?
S&t don’t get signing bonus 😰😰
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