Funny contract language

These clauses were in my IBD contracts:

"Your total working hours (excluding one hour lunch daily) is 40 hours per week... you may be required to work outside the official hours from time to time"

"Business working hours are from 9:00am to 6:00pm (Monday to Friday)"

"You are not entitled to leave during your internship with the company"
(talking about annual leave, but the clause still sounds funny).

"The company is under no obligation to provide you with any work"

 
Best Response

Sounds like you're only being paid for 40 hours unless they denote OT issues. The leave thing is understandable until something comes up, such as the death of a president which could create an "in-lieu" day situation. My contract had that stipulation, "no-leave", when I did a PWM internship a few summers back and Reagan died, shutting down the markets. It wasn't a national holiday though, so the firm was open. Since I was in, working on the "in-lieu" day, they had to oblige me with the day off. Ultimately, that all depends on what your job is anyway. As to the hours, 40 hours between 9 and 6, 5x a week... that's classic. Work from 9-6 without lunch 4x a week and then show up from 9-1 on fridays. it's a perfect use of the 40 hours your paid for.

 

Ea vel aspernatur dolores. Est et deserunt sed praesentium. Enim quasi magni quam eveniet dolorem nulla rerum eveniet. Quaerat et voluptatem ea qui quasi illum quidem nisi.

Minima esse consectetur id maxime. Explicabo numquam dolore incidunt velit ut asperiores.

Dolor earum et a qui quo. Blanditiis in deleniti ex quidem corrupti. Ut accusantium optio in soluta. Dicta libero voluptatum omnis et.

Adipisci in odio ut temporibus earum. Sit qui assumenda sit laudantium esse repellat rem. Nemo aut ipsa rerum ex sed modi.

Career Advancement Opportunities

May 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 04 97.1%

Overall Employee Satisfaction

May 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

May 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

May 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (20) $385
  • Associates (88) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (67) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”