Pay Advance - Accepted a SA offer
So I've received and accepted a summer analyst offer for an international firm (I am from the U.S.), and I got the official paperwork today. Pay is generous, but the letter mentions that it is payable on a monthly basis. The problem is I will not start work until the last day of May, meaning I will be living abroad in an expensive city for about 5 weeks before getting any kind of paycheck.
To put it simply, neither I nor my parents will have enough money to front 5 weeks of living expenses (I will have to pay my own rent, company does not cover housing).
Is it okay to request a weekly check instead, or some kind of advance on my June check?
Thoughts?
You should get paid a month before you start. Is this not the case?
Alternatively, use a credit card?
http://www.wallstreetoasis.com/forums/pay-advance-0
Try to negotiate a re-location bonus to cover you initial expenses.
Pay Advance - Any suggestions? (Originally Posted: 01/13/2011)
I've received and accepted a summer analyst offer for an international firm (I am from the U.S.), and I got the official paperwork today. Pay is generous, but the letter mentions that it is payable on a monthly basis. The problem is I will not start work until the last day of May, meaning I will be living abroad in an expensive city for about 5 weeks before getting any kind of paycheck.
To put it simply, neither I nor my parents will have enough money to front 5 weeks of living expenses (I will have to pay my own rent, company does not cover housing).
I posted this in the PE forum too since it is a PE firm, but I figured I might get a better response here.
Is it okay to request a weekly check instead, or some kind of advance on my June check? How would I go about explaining this?
Thoughts?
Just liquidate as many non-vital assets as possible before your move. Then, live cheaply until your paycheck comes in. You might even consider a youth hostel.
Explain your situation and see if you can get your first check payable up front / after a week. Once you are there i doubt they will worry about you running away with it.
Go to as many banks and credit unions as possible (in or out of state) on the SAME day, apply that day for a credit card and live it up on cheap credit until you get the "paper"...
Just talk to HR if this is a real issue and they should be willing to help. Explain the situation on the phone, not email.
If you want it bad, your instinct should take over.
...?
You realize he's not talking about hunting lions or getting out of Mogadishu right?
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