Bulge bracket analyst perks
Anyone got insights on analyst perks on bulge bracket banks? In particular Deutsche Bank or UBS?
Any insights on dinner, car service or other perks?
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the poop trough is usually nicer at bulge brackets
BB standard is $25 for dinner if you stay past 7 or 8, car service (read: "UberX") if you stay past 9 or 10. Most EBs might toss you a few more bucks for seamless, slightly earlier car service, etc.
Other industry-standard perks include discounted gym memberships, etc.
Why do you write "UberX" - Ive worked at a BB and get Uber Black lmao
Because most firms (yours clearly notwithstanding) prefer you take — or only give you the option of — UberX.
Also, they may just have been cutting you some slack on expense policy during your internship. COO office doesn’t want to appear draconian (say, demand $4 incremental cost back if an intern takes a Black) before you’re locked in.
You interned at a BB not worked. @Incoming Analyst
I thought you get black cars home after a certain time. Isn't that the case? Or by "black cars" does it mean Uber black.
Depends on the bank. Lots are switching to Uber (Black or otherwise) since it’s cheaper and more convenient.
Incoming EB Associate here who lives in Newport/Hoboken area - are banks generally ok with people taking Ubers to Jersey, or is there an "accepted radius" which is only in and around midtown Manhattan? That being said, I'm sure there are a number of people who live in the Jersey City area
That will be totally fine. People Uber back to Greenwich, Mt. Kisco, etc. all the time.
analyst here commuting from Jersey. BB doesn’t care about where the Uber goes as long as it’s your home address.
Was wondering about that. What if you're taking it like, nightly? $100/night is ok? I mean, from NYC back to the burbs is a fortune. Not that you can help it if you work late, but those distances are so expensive.
It's getting passed along to the client (eventually), so banks don't care that much. And the client sees it as a very small incidental expense compared to (last-minute, first class) partner / director travel, client meals, etc., to say nothing of the tiny percentage of the actual fee.
Thanks, very helpful. Yes, that's logical. Truth is, if you forced people to commute by public transport at that hour, they simply would not survive the sheer exhaustion long-term.
I used to take cars home nightly years ago, never an issue, but we had a car service and I didn't see cost. I often napped (no missed train/bus stop at all hours, imagine?), or caught up on a personal call, etc. I had the same guy almost every night, I could request him, he knew the route I preferred! It was funny, he treated me like a princess; very formal, elegant older man, neatly dressed in a suit, opened the door with a flourish LOL. Lovely guy. Once he took me and my MD to the airport, daytime, and I walked out of the building, he greeted me with a smile "hello, Ms. ---" and grabbed my suitcase and put it in the trunk, opened the door for me, as the MD just stood there. MD kinda looks at me, and says "Is this your guy?" It was a hilarious moment, one of the few times the MD wasn't greeted like the King of England and given priority. Beauty before title! Good times, good memories.
One other question - do they still do the big closing dinners, at crazy $$$$$ restaurants, with the whole team and the attorneys? Those were the BEST.
I had one law partner we worked with on almost all deals. Not only did he only pick the best restaurants in NYC, but he would advance-select the wine for each course. Forget it - some of us (me!) are not good drinkers - a few sips and I'm sloshed - trying to sample 5 different glasses of wine, forget it! These dinners were definitely the few times I tried really unusual, exorbitant items that I didn't care if I wasted if I didn't like it (never happened tho-)
my Uber’s average $70-90 a night. great since I get all those Uber points and it’s brutal to take public transportation at late hours.
Not sure if this is a "perk" but UBS pays interns on an hourly basis. So 85K base turns into $40/hr with an overtime pay of $61/hr. I heard GS and MS also offer overtime compensation, not sure about the other BBs.
I have a friend interning there and this is incorrect for this year. Did you intern at UBS?
That's weird. Incoming intern for UBS. Just signed the paperwork and it literally states that figure in the offer letter and the New York State employement forms. What did your friend say about his pay? Is he in banking?
CS too
They'll let you stay in the office over the weekend!
BBS tends to offer you free housing in the building!
What about MM perks, curious to see how it compares. Maybe new thread?
Southern MM here: $30 dinner stiped after 7
Do you get free laptop?
I sometimes get a "Thanks" instead of "thx" from my MD
Rare
x
no lol, company laptop tho standard with every company
Don’t know what you mean by “every company” but GS is BYOD. Definitely no company laptops.
Free coffee
At CS we have free redbull and smoothies
free red bull is legit. so much for the swiss being cheap
Dude what is up with the intern asking everyone about banks issuing laptops. Bro you afraid the FBI gonna come knocking on your door?
lol. Do most banks issue laptops?
Afaik no bank provides a laptop to interns. If you want a company issued laptop, you should’ve picked management consulting
10 extra pounds every year and depression
Perhaps in light of this whole COVID/WFH situation, banks will now start issuing laptops to junior bankers rather than chaining them to desktops, and making people VPN through a personal device at home (which is slow as hell). I was under the impression that EBs issue laptops to Analysts/Associates, and am surprised to read here that BBs don't do the same
Technology is an absolute joke at most banks.
Part 1: Regs/Compliance (Some considerate and well thought out, but most ridiculous and assume we are all out to cripple our professional reputation and client relationships)
Part 2: Cost (massive delayed attention to systems to save short-term costs that build in to serious long-term costs and implementation risks)
Part 3: Poor user application and troubleshooting (Hardos in IT/Tech who are seemingly committed to over complicating code & process fundamentals to prove how smart they are to one another)
what are the perks for markets analysts (structuring to be specific)? I heard hours might be long for structuring (after 7-8 pm). Do they get the same perks as IB (dinner, Uber..)?
Everyone in front office gets the same perks, so you are looking at comparable (read: $25) dinner allowance and free Ubers home.
BB - $35 dinner, uber 9pm, uberblack 11pm along with other discounts on company perks website
What bank is this? Dont have to answer if u dont want to- just curious what you buy for dinner with $35- I have trouble spending $25 (usually have to get a drink/side or something to hit the limit)!
i would buy extra snacks / drinks or increase tip to the driver.
lmao buy two entrees so that you have lunch for the next day
statistically more likely this BB's name contains Morgan given we all know Jamie D is not likely to extend $35... Probably Morgan Stanley.
you're correct. rules were updated june 1, 2019
ur anonymous, drop which bb
Obviously not a BB, but this is what PJT has (though it's uberblack only after 9 PM)
At JPM we have two $25 meals, one after 7pm and one after 10pm
I thought the second was only if you stay past midnight (did they change it since last summer?)
Yup - for the 2nd dinner you can start ordering from 10pm but need to stay until midnight. I mostly just used it for fruits / snacks / drinks
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