Investment Banking Summer Analyst Salaries 2017
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
Yes, I would like to know as well.
.
85k prorated
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.
Are one time payments included with first paycheck?
GS one time payment is only 1.5k
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)
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.
Geez, BAML at 22.5? Seems quite low given location too...
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).
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Are you at a BB AM arm? GS/JPM/MS ?
Yes one of those
85k pro-rated at MM.
Same
Same
Same
Same
Btw the housing stipend is taxed
When is the housing stipend paid exactly?
Sophomore working at a BB, 75k prorated with a housing stipend
What division are you in, IBD?
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.
Yes, IBD
soph. @ BB IBD and got 70k pro-rated
I know Evercore is 95k prorated and 5k signing. So if you have any friends there this summer drinks on them.
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
Does RBC pay top of that range?
Yes, I think no one pays 75k now that Scotia has increased so range is 80-85 with NBF being below.
Its USD 85k prorated minimum now
I've heard around 2k weekly at Stifel. That's 104K pro rata annually.
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.
Right? XD. Like just be happy you got the internship.
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
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.
don't tempt me with a good time
test
Since everyone on here is wondering: Chili's line cook makes $11 an hour
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?
Sophomore = Sophomore going into Junior Year
ABN AMRO $30/hr Rabobank $26/hr
(Top Dutch banks in NYC)
Rabobank Summer Analysts in NYC/all other US locations get paid $1,250/week (interned for Rabo in multiple locations)
I'm getting $13,000 in total (inc the relocation bonus) for the 10 week internship in IBD at a BB
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.
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?
Bump
yes
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.
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