Just received offer and was told 53/hour with 1.5x for hours over 40. Will I actually collect this overtime or is it kind of just expected that I will say I worked 40 despite being a bit over? I know that 53/hour at 40 hours a week comes out to the standard 110 prorated.
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Prospect in IB-M&A, hey, look at the bright side, at least you didn't get a ton of monkey shit thrown at you...here is my best guess on threads that might be helpful:
More suggestions...
I hope those threads give you a bit more insight.
You will be able to record however many hours worked past 40 hours and you will be paid appropriately. Interns in my group made close to $50,000 over the course of last Summer but YMMV based on group and with deal flow continually worsening. Enjoy the money because although you will be taxed a significant amount, you'll get a large portion of it back on your tax return (as a result of not making a full year's salary). You will basically be paid more than your analyst for the Summer.
Wouldn't worry about deal flow right now, esp if this is for summer 2024. I'm currently in a coverage group at WF and our deal flow is still pretty solid. So far the bank hasn't been hit as hard imo, given growth initiatives and more placement on M&A deals.
I can confirm that you'll probably make between 40K - 50K over your summer here. The bank generally tries to pay higher than some of the other bulges to keep talent around (same goes for FT as well)
Do you get paid overtime as a full-time employee?
Nvm I just read that part lol
At Wells, can intern log hours that they worked on projects for from home on weekends? If I decided to finish a project over the weekend can I log that time or only hours that were in office count?
Summer 2023 interns were not allowed to WFH, so we had to be in the office to complete all work, definitely led to some late nights where basically all of the FTs had gone home
Dang I thought I was gonna get an interview with WF but if you already have an offer seems like a no ):
Anyone able to shed light on FT signing/ relocation bonus?
$10,000 post-tax
just got an offer for markets SA '26. says $53 an hour with 2.5k signing bonus in the offer letter but no mention of overtime. if overtime is a thing will they say it in offer letter?
bump
bump
By law, NYC overtime is 1.5x the normal rate, so Im assuming we'll get the same comp, too.
did wells summer 24 in clt. got 1.5x for ot but don't know if its changed.
How much did you end up making pre-tax?
Heard 55k...Shit fucking load
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