Comments (51)

Jul 30, 2019

A MM and EB both offered me 3k signing bonus for SA 2020 - friend at another upper boutique said he got offered about the same

Jul 30, 2019

Do you know about BBs?

Jul 30, 2019

Unfortunately, no I'm not sure what the typical signing bonus is for BB. I assume it's around the same though

Jul 30, 2019

Do my free t-shirt and water bottle count?

Jul 30, 2019

Should I be concerned/annoyed if I didn't get one? Didn't realize this was common practice

Array

Jul 30, 2019

From what I understand a lot of smaller banks do not do this.

    • 1
Jul 30, 2019

do you mean a moving stipend by signing bonus?

    • 1
Most Helpful
Jul 30, 2019

Personally, Interns don't need signing bonuses.

    • 2
Jul 30, 2019

I got an offer from a BB and was just given a prorated analyst's salary of 7083 a month, no mention of a sign on bonus. I know you get one when you sign on FT, but are SA sign ons a thing?

Array

    • 2
Jul 30, 2019

so you're making around 14k that summer?

Jul 30, 2019

It's typically a 10 week program so 2.5x.

Array

Jul 30, 2019

how common is overtime?

Jul 30, 2019

Heard it's 150% for every hour over 40, but only for BBs

Array

    • 3
Jul 30, 2019

Depends on the location and the company. I've heard that California has mandatory overtime but I'm not sure. That being said, BBs have it for all locations I believe.

Array

Jul 30, 2019

I know that but I'm saying is it common for interns to do overtime? Does the firm get pissed if you spend too much time after 7

    • 2
Funniest
Jul 30, 2019

This is investment banking, young child.

    • 9
Jul 30, 2019

How does overtime work? I was under the impression that you are getting a salary for the summer, not an hourly wage, so overtime isn't required and no one is keeping track of your hours so it doesn't matter.

Array

Jul 30, 2019

Have 3 data points from this cycle. Some banks call it a sign-on, some call it a relocation bonus.

MM - None
EB - 2k
BB - 2k

Array

Jul 30, 2019

EB-2.5k

Array

Jul 30, 2019

London is usually 1K GBP for those across the ocean

    • 2
Jul 30, 2019

EB 5k

Jul 30, 2019

EB 2.5k

Jul 30, 2019

Seems like I've had the opposite experience than most, didn't even know relocation/signing bonus were a common thing for SA?

BB - None
But an offer from an MM - 2k

Array

Jul 30, 2019

BB 2k - they called it a "relocation bonus" but that's pretty common

Jul 30, 2019

I got 2k relocation, 85k prorated 40 hours, with .5 overtime pay from a MM- Am I being underpaid or is this in line?

Jul 30, 2019

Nah that's pretty in line I'd say. I got an EB offer that's also 85K prorated with no OT and a BB offer that 85K prorated with .5 OT.

Array

    • 2
Jul 31, 2019

.

    • 2
Aug 8, 2019

Is OT paid only during the first week or for all of the 10 weeks?

Jul 30, 2019

Seems like a lot of people here are getting overtime? My offer just says 'x salary for the summer', which obviously means no overtime, and the salary is very in-line with what everyone else is posting. That being said, if everyone else is getting overtime, that seems like it would make a huge difference when working 80+ hour weeks. Anyone have thoughts on this? Is overtime standard?

Array

Jul 30, 2019

I wouldn't say it's standard. Many of the BBs pay OT as far as I'm aware (at .5x), however a lot of MM firms do not pay it, not totally sure about EBs.

    • 1
  • Intern in 
Jul 30, 2019

.

    • 1
Jul 30, 2019

Are you at BB/EB/MM?

Jul 30, 2019

EB 2.5K signing bonus paid upon first paycheck. 85K prorated for 10 weeks = ~17.8K wages.
2.5K bonus + 17.8K wages = 20.3K for the summer.

    • 1
Jul 30, 2019

I think this is just a little off, if I have my math correct, wages should be 16.3k + 2.5k signing = 18.8k all in

Edit, on second thought I suppose it depends on if if they are prorating by week or month. I know my offer was a weekly figure, comes out higher if you calculate monthly then multiply by 2.5

Jul 31, 2019

could you explain how this prorated math works? I don't get it how you go down from 85 to 17.8

  • Intern in IB-M&A
Jul 31, 2019

85 is the yearly base, but adjusted for being only 10 weeks instead of the full 52

Aug 8, 2019

What about the amount after tax?

Aug 1, 2019

MM Analyst was $15k at my bank for 2019 starts

    • 4
  • topboy
  •  Aug 5, 2019

BB: 2.5K for SA 2020

Oct 29, 2019

Most BBs (even in capital markets) give a "relocation bonus" of $1.5k-$2.5k

Array

Oct 29, 2019

I thought SBs for MM EB and BBs was standard and it was 5-10k?

Oct 29, 2019
Comment
Oct 30, 2019
  • Incoming Analyst in IB - Ind
Dec 26, 2019