Does anyone know the compensation for Equity Research internships at bulge brackets? I have heard that most BB's pay overtime and give a housing allowance, but what are the rates? Does the pay vary much by bank?
I'm just curious.
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I'm getting paid 70k prorated with no housing allowance doing ER on the buyside in midtown for my summer internship between junior and senior year.
70k prorated + 2k housing bonus
70k prorated also sounds right for most BBs. Not sure about housing allowance, but if they give you something it would be minimal ~2.5k.
Thanks for the input. Anyone have information on overtime pay? Is that standard for interns at BBs?
No OT as far as I know.
I think OT pay is only in Cali
i have OT pay at my bb in nyc this summer
i'm curious: when you say pro-rated, is that based weekly or hourly?
It's 5800/mo. ~70k per year. Prorated number is more useful for calculating projected first year base if you get the offer. Easier to compare across different pay structures as well. Paycheck itself is bi-monthly as it is pretty much everywhere.
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