Just got an update that the overtime pay for the summer would be 0.5x... That makes 0 sense, and I'm kinda worried how full time pay is. Does anyone have any insight as to why they did this, and if fulltime pay is at all affected?
| +183 | Return Rates For Interns Are Falling? | 77 | 10m |
| +128 | UBS Americas IB: The Kids’ Table of Wall Street | 16 | 20h |
| +99 | I am a drunk MD AMA | 37 | 3h |
| +76 | London IB BB is a challenge | 41 | 16h |
| +63 | VP Lifestyle at Top BB Coverage Groups | 40 | 5h |
| +63 | KISSED MY VP… HELP!!! | 15 | 2h |
| +57 | An Outsider’s View of RX Banking Out of College | 7 | 6h |
| +49 | SharePoint makes IB hours HELL | 15 | 2d |
| +46 | UBS Offer Day | 18 | 4h |
| +43 | momentum of Rx groups | 16 | 10h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
ft pay isn't affected. 1.5x is extreme anyways. like ur making hedge fund internship money with banking job
I suppose it is a bit much, but it's kind of disheartening realizing the more u work the less u earn after a certain point in the wk. I know the internship is just a stepping stone, but still
you do realize a lot of IB internships don't pay OT at all...
But they still keep base rate right? For WF now, OT becomes 0.5x of the base hourly rate. I might be uninformed, but I don't think this is usually present.
no, some places will prorate you at 110k or whatever and so you just get paid monthly the same number the analyst is making. When he means no OT it means they work you 70 or 80 hours a week and you get paid for 40 as if you were a FT employee
Oh I see, that puts it into perspective.
Est qui cumque autem adipisci blanditiis similique omnis. Ipsa et nihil consequatur similique velit quaerat at. Qui neque vero sequi dolor qui velit perspiciatis.
Autem amet deleniti rem dolor. Vel qui voluptatum eius tenetur.
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...