Hi,
Just wanted to compare SA offers. Here's mine:
MBB west coast
$4200 / month
No reloc, no signing, no bonus or anything.
I know bonuses are uncommon for the summer but the base sounds a little low. I was curious if this is par for the current economic state. And if not, any tips on negotiating? Does it make sense to mention a counter-offer albeit in a completely different discipline?
Thanks
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do you get paid overtime?
The written offer doesn't mention overtime...should I ask? I don't want to come off as the fool who is too lazy to work even before starting.
Base is about right. Standard=1100/wk for bankers.
The MBB generally pay an EOS sign-on bonus. So just perform well...and lol don't ask about overtime, you'll sound like a moron.
You don't do your SA for the wonderful comp...you do it for the FT offer, or the the chance to shop around that FT offer to other firms.
I have not heard of overtime at MBB (have an offer to start in Fall '09).
To give you a basis for comparison, I believe my offer for a 2008 summer at a west coast MBB was $12,500 (or maybe $12,000?) for 10 weeks.
No bonus/overtime/etc, but I did get a trip out west to apartment hunt, as well as a small advance of my salary in the spring.
Shoot me a PM if you have any questions about the west coast MBB experience... I got to know all of the firms a bit.
PM sent to ringtailedlemur. Thanks everyone. Good feedback. I'm still going to do it, but just wanted to know where I stood. The FT base salaries in the 2009 FT thread seemed a lot better. Does your SA offer influence your FT base?
No, as far as I'm aware every incoming FT has the same comp package, regardless of whether you summered there or not.
What I meant to ask was whether the base next year would be based on the summer salary? i.e., would FT base be $4200 * 12 = ~50k?
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