Bank Didn't Pay Interns on Payday

Hi All,

Should I consider it a red flag if my employer didn't pay its interns on payday? I currently intern at a major bank that didn't pay us on payday yesterday. I spoke to HR about this issue but no information has been given in response to that. As of now, it is the 3rd week that we haven't gotten paid. I also don't buy the "it takes time" argument since NY law requires for employers to pay non manual workers every two weeks. Adding on another two weeks would be considered illegal. Should I be concerned about this bank going forward?

Region: 
United States - Northeast

Comments (11)

Mar 1, 2019

Is this a major bank or some rinky dink outlet?

Mar 1, 2019

It's a major bank.

Mar 1, 2019

Had this happen to me at BB one summer. They corrected it. I wouldn't worry about it, although it's certainly annoying.

Mar 1, 2019

So this is your 3rd week working or 3rd pay cycle not getting paid? I would bet the fact that last month was february screwed things up a little, especially if you JUST started.

Did other interns have the same issue?

If its not just a back office issue, the conspiracy part of me wants to say this is BarCap hoarding cash for the fight against Sherborne...but probably not.

Mar 1, 2019

This is the 3rd working week and none of the interns got paid. That makes sense but we have a pay calendar that specifies when all employees get paid. Based on that calendar its the 15th and end of the month. It would be strange if they didn't follow the calendar just because we're interns.

Mar 1, 2019

Your paycheck is in arrears I wouldn't worry. Wasn't paid my from sophomore internship at a reputable AM (Vanguard, Blackrock, PIMCO) until the fourth Friday of the internship

Mar 1, 2019

R - E - L - A - X

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Mar 1, 2019

The banked I interned at didn't pay us until like 4 weeks in. So I wouldn't worry about it. Though it is annoying af

Mar 1, 2019

Dude, relax, back-office business sometimes takes time and it's pretty clearly a one-off delay due to onboarding. This is not a red flag. If a major bank truly couldn't come up with cash to pay their interns, we all would have known about that by now.

Mar 1, 2019

I understand that but there are other circumstances that can make other people uneasy about this. Financial constraints, for one, makes it so that going without pay for weeks means struggling to find out what clothes to wear and how to pay for transportation.

Mar 6, 2019
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