Concerned about Summer Offer
I am concerned about my recent offer for a summer analyst position. I will be in FO position, S&T.
So I received an offer from HR at a top MM or what would be considered low tier BB (think RBC or Wells Fargo) for a summer analyst position in S&T (junior year type internship).
My compensation is an hourly rate which seems weird to me because other offers my friends have received (diff. firms) are at 85k prorated or 70k prorated.
That being said the hourly rate is a also little weak.
I do not care about the compensation over the summer, I am more concerned that my position is either not what I think it is (i.e. not actually sales or trading but maybe some type of operations position??) or that full time compensations at this firm may actually be pretty low.
with that being said its pretty respectable bank.
Do you guys think something is weird here or is this normal?
What does your offer letter say about the position?
it doesnt say exact responsibilities. It says Summer Analyst in Markets Division Sales and Trading then some stuff about the firm, and some tax info, and a relocation bonus. It gives a link to an online portal which gives general responsibilities for various positions in investment banking, i.e. IBD, Sales and Trading, Technology, Research...
im guessing its not in nyc. as a result its lower compensation.
that would have been my guess to, but its actually nyc...:(
probably just because RBC S&T isn't that strong. I think RBC investment banking pays like 90k prorated.
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