Investment Banking Summer Analyst Salaries 2017

Wulf's picture
Rank: Monkey | 45

Curious to know how pay stacks up now on Wall Street across divisions. From what I hear, 85K Prorated seems to be the norm right now for IB, but I'm intrigued in hearing about other people's experiences.

investment banking internship compensation

For the big banks, salaries are often pro-rated off of the full time first year analyst salary which on average is $85 K (as of 2018). This was true for 2017 and is true for 2018. As an analyst, you will receive an hourly salary based on this figure. Some banks, such as Bank of America, will also offer overtime if you work more than 40 hours; however, some banks do not. For example, Goldman Sachs in the US does not offer overtime payment for most divisions.

What Does Pro-Rated Mean?

In the context of a summer internship, a pro-rated salary will take the salary of the first-year analyst and turn it into an hourly salary based on some expectations of your hours worked.

For example: $85,000 salary is then assumed to be turned into a weekly salary so $85 K / 52 weeks a year = $1,634 a week. Then maybe the firm assumes a 60-hour work week = $1,634/ 60 hours a week = ~$27 an hour. That is roughly how a pro-rated salary is found.

Investment Banking Intern Salary

The Wall Street Oasis Investment Banking Industry Report offers details about salary and bonus figures all across the experience spectrum. Check it out below.

Take a look at the 2017 Wall Street Oasis Investment Banking Industry Report. This report includes hours worked, compensation, employee satisfaction and much more. Click the link below to get started.

2018 Investment Banking Industry


Comments (61)

May 24, 2017

Yes, I would like to know as well.

    • 1
Jun 21, 2017

.

    • 1
Jan 31, 2018

85k prorated

    • 3
May 24, 2017

Can confirm JP and GS do not pay over time. Wells and HSBC do. Don't know about others.

Edit: Banks also pay one time special payment in May. Usually between $2,000 - $2,500.

May 25, 2017

Are one time payments included with first paycheck?

May 25, 2017

GS one time payment is only 1.5k

May 4, 2018

JP one time payment was 5k. Granted this was not NY IBD and our Prorated comp was less in a tier 2 city.

(This is full time. Sorry, didn't realize thread was for summer analyst information)

May 25, 2017

In CA, Citi pays 40/hr, Wells 30/hr, BAML 22.5/hr. I think the rest of the banks are all prorated with no overtime.

May 25, 2017

Geez, BAML at 22.5? Seems quite low given location too...

May 25, 2017

I think it's either 22.5 or 25. It will still be higher than those who were paid a salary based because of the 1.5 overtime paid (2x when worked over 80 hours).

Jan 31, 2018

deleted

    • 1
May 25, 2017

Are you at a BB AM arm? GS/JPM/MS ?

May 25, 2017

Yes one of those

May 25, 2017

85k pro-rated at MM.

    • 4
May 25, 2017

Same

May 25, 2017

Same

May 27, 2017

Same

Apr 5, 2018

Same

May 25, 2017

Btw the housing stipend is taxed

May 28, 2017

When is the housing stipend paid exactly?

May 25, 2017

Sophomore working at a BB, 75k prorated with a housing stipend

May 25, 2017

What division are you in, IBD?

May 25, 2017

It doesn't matter if its IBD or not. If you are a sophomore at a bulge bracket in NYC it's 75k prorated. If you're a junior its 85K. All front office roles (research, S&T, IBD) all pay their interns the same.

    • 6
May 25, 2017

Yes, IBD

May 25, 2017

soph. @ BB IBD and got 70k pro-rated

May 26, 2017

I know Evercore is 95k prorated and 5k signing. So if you have any friends there this summer drinks on them.

    • 4
May 27, 2017

Not Wall Street, but if anyone's curious about Canada, SA pay for the 5 main Canadian banks are C$75k-85k prorated, depending on the bank

    • 3
Jun 23, 2017

Does RBC pay top of that range?

Jun 23, 2017

Yes, I think no one pays 75k now that Scotia has increased so range is 80-85 with NBF being below.

Feb 8, 2020

Its USD 85k prorated minimum now

Array

Jun 21, 2017

I've heard around 2k weekly at Stifel. That's 104K pro rata annually.

Jun 22, 2017

Christ, there are like 2,500 posts on this. It really doesn't change that much and every recruiting cycle there is a new post of kids getting hard over $85k vs. $80k or whatever it is.

    • 17
Jun 22, 2017

Right? XD. Like just be happy you got the internship.

    • 2
Jun 25, 2017
juniormistmaker:

Christ, there are like 2,500 posts on this. It really doesn't change that much and every recruiting cycle there is a new post of kids getting hard over $85k vs. $80k or whatever it is.

so what? you don't need to be a douche about it. this website is literally dedicated to incoming/prospective analysts. youre that guy whos old enough to drink at a highschool party knocking kids who can't handle their liquor...it really only makes you look bad

If the glove don't fit, you must acquit!

    • 3
Jun 26, 2017

Hopefully when you actually get a job you'll take a minute to search around before asking obvious questions. The resources are there for you so asking just makes you look lazy.

    • 1
Aug 24, 2017

don't tempt me with a good time

Jun 22, 2017

test

    • 1
Best Response
Jun 23, 2017

Since everyone on here is wondering: Chili's line cook makes $11 an hour

Array

    • 21
Jun 23, 2017

When you guys say sophomore do you mean you just finished freshman year and going into sophomore year or you just finished sophomore year and heading into junior year?

Jun 23, 2017

Sophomore = Sophomore going into Junior Year

    • 1
Jun 23, 2017

ABN AMRO $30/hr
Rabobank $26/hr

(Top Dutch banks in NYC)

    • 2
Jun 26, 2017

Rabobank Summer Analysts in NYC/all other US locations get paid $1,250/week (interned for Rabo in multiple locations)

Jun 23, 2017

I'm getting $13,000 in total (inc the relocation bonus) for the 10 week internship in IBD at a BB

    • 3
Jun 24, 2017

I go to a target and have many friend in SA IB roles at BB's this summer in NYC. All salaries are pretty much around $1700-$2000 per week depending on whether you are paid by the hour or not. For example, Barclays pays $1700 a week. But HSBC pays $40/hour with extra overtime. Also, BB's give summer bonuses of $2000. Hope this is helpful!

BTW, full time 1st year base across BB's on the street is 85K. Some places like Evercore is 95K.

    • 1
Sep 3, 2017

Question, whatever your pro rated for the internship is it safe to say that's what your entry level salary will be if you accept the full time offer after completing the internship?

Nov 28, 2017

Bump

Nov 28, 2017

yes

Apr 4, 2018

Up until very recently, certain SF BBs like CS, DB, and Citi paid an hourly rate with overtime. Had a few buddies make around $50K in a summer which was ridiculous because most BBs leave you with $20K pre-tax.

May 4, 2018
Comment
May 4, 2018