Do investment banks (bulge, middle market and botique) pay their summer analysts?
Trying to get my first gig this summer and just want to know what to expect when it comes to pay. To be honest, as long as I get enough to pay off an apartment and food I'll be happy.
Really depends on where you place, but street SA pay is apx $5-6K per month.
Typically at BB it's pro-rated on 70k annual salary - a few pay overtime in California. Some elite boutiques will pay 20k, but that's the high end. Lots of smaller banks pay hourly (anywhere from $10 - 20/hr) and many are entirely unpaid.
As far as I am aware, official SA programmes all pay. Unless you got the job because you had family connections and they see it as "work shadowing", you might be given an allowance for food or/and travelling.
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