2017 Boutique IB SA Comp
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Lol fucking seriously?!?!?! If MM is 70 and you get 66.3 you should count your lucky stars and worry about comp for FT when you get to that point. There's tons of no-names that pay 45-55k base and the pay really isn't going to make a life-altering difference over 10 weeks.
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I think you will be in (relatively) good shape for FT recruiting but FT recruiting is becoming SUPER tough.
^Great job answering the question, I'm sure he really appreciated your response.
It is below street - I signed with a MM for summer 2017 and it was 85k prorated (a lot of my peers are around 80-85k as well). I wouldn't worry too much about it though, congrats on signing.
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you almost always get a bonus, usually if you're at a MM place your bonus will be 80-100% of your comp (top bucket, meaning you are the best / one of the best in your class). so to be on the safe side I would double check with people that work there, but if I had to guess you would be paid around 100 to 110k a year assuming you do a good job.
I signed with an EB for summer 2017 and it's 95k pro rated and I know many of my friends are in the 85-95k range. I know a couple who signed with small "no-name" or close to "no-name" boutiques in NYC and there pro-rated range is around 70-85k.
Although the consensus appears to be that the pay is on the low-end of the scale it's more important to recognize that not a lot of people have the luxury of securing an SA position. So I would be less concerned with pay and more concerned with how you're going to excel in your summer position. If you're extremely concerned with pay then I suggest lateraling at a future date to a firm that offers a higher salary. Although I wouldn't suggest leaving a position solely based on the pay, I do understand the logic. Congrats on signing!
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Also know that most established MM's and EB's pay street of 85k or a bit more (5-10k base). Nonetheless, congrats on the offer. You shouldn't worry too much about the difference as many places pay substantially less.
it is just a fucking internship
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