How much money did you make as an SA?
Got my W-2 form. I made close to $17,000 at a BB for my SA stint. (NYC)
Anyone else in this range? I imagine those on the West coast made double this.
What makes you think west coast would make any more?
Not sure this is any different from NYC? I would imagine BBs pay the same for SAs in SF/NY locations. I know where I'll be working (NY) pays by hour + overtime as well.
I heard that b/c of overtime laws kids on the west coast make like 20-25k+ due to long hours. Wondering if anyone can verify?
I heard that the banks will usually just deduct the "extra" amount you make over summer from your FT analyst bonus. Is this true?
I've seen offer sheets that says $70k base, 1.5x after 40 hours and 2x after 60 hours a workweek. That's easily over 30k after tax if you work 80+ hours average. Also, are you actually supposed to record every single hour you work when you have this pay structure?
How much will you get back from your tax returns?
Cali laws have weird OT rules such as 2x after a certain number of hours. For NYC, its 1.5x for all past 40. Also, we do not get all back from tax returns. From gross 19k, I got back 3k flat last year.
Can confirm crazy California overtime regulations.
Did not work in IB/AM/ER etc. Did a MO role at an F100 (Treasury), and pulled in $22K pre-tax during a 12 week period. 60 hour work weeks, paid by the hour.
I was an hourly employee, at a base of $24/hour. California law requires any work after 8 hours, but before 12, be paid at 1.5X, and anything after 12 at 2X. My employer happened to pay anything above 8 at 2X.
http://www.dir.ca.gov/dlse/faq_overtime.htm
Gotta love California!
How come these rules don't apply to FT as well? If you take $30k over 12 weeks, and pro-rate that to a whole year, you get $130k (and that's before a bonus!). But I always thought that IB in the West Coast paid the same as in the East Coast.
LOL dude. Because FT roles are NOT hourly wages. Its a base and bonus= your salary. The hourly shit for internships is applicable for internships only in finance or if you work at a job tht the contract is hourly. ex- waiter, bar-tender etc
~$33,000
Made 12-14K as a SA in the SE.
Offer right now for Ops will pay ~27k assuming 60 hr weeks (NYC)
Friend made 37k last summer working ~90 hrs/wk (NYC)
WTF? Am I the only one that will be making 70k prorated, without any option for OT extra? This amounts to around $13461.
NYC
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