WF Intern Overtime Pay Halved
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?
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.
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