85k Prorated and Signing Bonus After Tax Monthly in NYC for SA's

jimmyjoms's picture
Rank: Monkey | 65

@2019 Summer Analysts:

Hey guys, I just accepted my offer for Morgan Stanley SA.

I just wanted to calculate my budget as a summer analyst! How much do we get monthly after tax and stuff for 85k prorated (with overtime pay)? Online sources that calculated take-home pay say that it is around 5,000 bucks a month (excluding overtime), but just wanted to be sure. Also, how badly is the signing bonus/housing stiped taxed if it is 2,000 bucks?

After OT/Monthly Pay, how much are you guys pooling in per month?

TIA guys!

Comments (38)

Oct 6, 2019

With an $85k prorated + assuming NY taxes you will get a check around $2300-$2500 after tax (difference on your 401k contribution, etc).

The $2k will probably be taxed at a 35-40% rate so around $1.2k give or take. However you will get a couple hundred back in tax refunds later on.

Not sure about OT, depends on your firm policies/cultures/actual work hours. I'd probably estimate another $1k-$1.5k to your bi-weekly if your firm does pay OT.

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Oct 6, 2019

hey thanks for the input. could be wrong but i think OT is 1.5x? Im assuming the check is biweekly (~ 2 checks a month) right?

Oct 6, 2019

Last summer receiving the same salary except ot, I got around 2,200 biweekly. Regarding your signing bonus, a friend of mine with a MS offer received 5k. Im not sure whats the average signing bonus for MS, but 2k is probably just a little on the low end.

Oct 6, 2019

heyy, i'll be in the technology division so that probably is why haha. Probably not smart of me to negotiate either lmao

Oct 6, 2019

Does it say what your OT rate is? Some of my friends in NYC last summer received 0.5x hourly during OT

Oct 6, 2019

It's the law, OT pays 1.5x. No exception.

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Oct 7, 2019

False, I'm being prorated 85K and 0.5x for overtime next summer

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Oct 8, 2019

The law is only for non-exempt employees. If you have a salary, they arn't required to give you anything. The 0.5x is a blessing so take it and run.

"one for the money two for the better green 3 4-methylenedioxymethamphetamine" - M.F. Doom

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  • Prospect in IB - Ind
Oct 6, 2019

Doing my SA at a different BB - if my contract didn't state an OT rate, does that mean I won't get paid OT?

Oct 6, 2019

definitely check with HR just to clarify, but the OT stuff was stated in my offer.

Most Helpful
  • Intern in IB-M&A
  •  Oct 6, 2019

My BB offer letter doesn't state anything for OT, so I'm assuming we won't be getting any.. I asked a friend and they said they made around $2500/paycheck on 85k prorated last summer

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  • Prospect in IB - Ind
Oct 6, 2019

.

  • Intern in IB-M&A
  •  Oct 6, 2019

No. CS

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  • Intern in S&T - Other
Oct 6, 2019

I'll be getting paid hourly for the standard 40 hrs and also getting a higher hourly for OT.

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  • Prospect in IB - Ind
Oct 6, 2019

Was the OT specified in your contract, or did you ask HR separately?

  • Intern in S&T - Other
Oct 6, 2019

specified

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  • Prospect in IB-M&A
Oct 6, 2019

BB nyc, 85k prorated with 2400 bonus - no mention of OT in my letter, is it typical for interns to not get any OT pay?

  • Prospect in IB-M&A
Oct 6, 2019

I accepted a BB IBD SA offer in Huston and is still 85k prorated but bonus is just 2k, is the bonus too low?

  • Prospect in IB-M&A
Oct 7, 2019

With 1.5x OT

Oct 8, 2019

if you accepted you have no room to negotiate, so it doesn't matter

  • Intern in Other
Oct 7, 2019

BB NYC 85k but no bonuses or mention of OT in letter...I don't think OT is common or the law as someone else said if it's the prorated 85k but could be wrong.

Oct 7, 2019

OT laws differ from state to state. I know some SA's who did not get any form of OT.

Oct 7, 2019

BB NYC, 85k with 1.5k signing bonus and 1.5x for OT

Oct 8, 2019

OT is half the fulltime pay rate usually

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Oct 29, 2019

BB, ~$40/hr for first 40 hours, ~$60/hr for OT.
Signing bonus between $1.5k and $2.5k

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Nov 3, 2019

non-OT guys mad huh

Nov 3, 2019

wtf, if you work 80 hrs/week, that's $40k over the summer or $208k pro-rated. Maybe Wells? I heard they a ton but wouldn't guess that much.

Nov 3, 2019

Yeah that's why people do banking lmao. This is at a BB.

Oct 29, 2019

Also congrats; you're working in a good job at a great firm so just spend and enjoy yourself.

  • Prospect in IB-M&A
Oct 29, 2019

What are you all talking about overtime? I thought 80 hours a week was expected. There is additional pay?

  • Intern in IB - Restr
Oct 29, 2019

Lol agreed. I'm assuming most people talking about OT are in specific states like CA. But then again I also didn't get any signing or relocation bonus.

Oct 29, 2019

EBs and Rx don't pay interns as well- those numbers are for some of the BBs (not all). Whoever MSed me should find a friend who got an offer and read their letter closer lmfao

Nov 3, 2019

Sometimes hours can get capped for IB. Interned at a BB and pay was $85k pro rated + OT, $2k bonus. However, S&T interns weren't allowed to work from home nor go to the office on weekends.

And IB interns had a soft cap at 75 hours. If you went above that, ie 80+, hr would contact your staffer to see what was going on. What ended up happening is many interns would just clock in 75 every week, even if they truly worked 80+. Anything to not piss off your staffer and get that return offer.

Nov 3, 2019
Comment
  • Intern in IB - Ind
Dec 3, 2019