Summer Analyst Compensation for 2009
Just want to see what people are getting this year. Just state the comp and location if you want. Btw is it common for SA's to get a bonus?
Getting 75 base and no bonus - toronto
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You do mean 75K Canadian dollars pro-rated base, don't you?
It is not common for SA's to receive a bonus at the end of the summer. It is however common for SA's to receive some sort of "signing" or "relocation" bonus at the beginning of the summer in an amount ranging from 1K - 2K U.S. Dollars.
There are also a few banks (most notably CS and UBS) that pay overtime.
No, they do not pay overtime. I did my SA there.
60k + signing bonus of 2K.
yea its canadian dollars and pro-rated. no relocation or signing bonus :(
boutique bank, Chicago last year $60k & no signing bonus.
60k prorated + 2k signing + 1/2 time overtime (over 40 hrs a week)
That is outrageous that banks are STILL doing that. In either case, congratulations, you're going to be ballin' come senior year :).
Where did you get 1/2 for overtime, and are banks still doing this?
I believe the overtime policy applies only for training. At least that is the case with a handful of banks regarding FT compensation. Once training is over, overtime is no longer a factor. I know SA training is very brief, so I'd be interested to hear more about this overtime. If overtime compensation is applied for the duration of the SA program (on top of the 60K and 2k signing), that is quite a deal I would think (considering that, when possible, it's good for SAs to be the first ones in and the last ones out).
CS IBD offers exactly that compensation.
60k prorated + 2k housing, pretty standard
BB's in HK are paying:
1) Roundtrip air-ticket 2) Housing for 10 weeks 3) HKD 39,000/month x 10 weeks
~$11,000 USD salary + ~$1000 ticket + ~2000 housing
= $14,000 total
+1/2 Overtime is for the entirety of the summer, not just for training. BTW this is for FI S&T, so I don't know if they changed their policy for banking.
Revsly, you're with BoA-Merrill S&T? I got the same overtime and comp package, but you're unlikely to reap any overtime pay just because you're probably not going to work 100hr/weeks. If it were IBD, it'd mean greater total comp -- for S&T, not so much.
No, not BOA-Merrill, a European Bank. But even in S&T its probably about 60-70 hrs a week, which is 20-30 hours of overtime. That's not a ton, but if you think about it, it increases total compensation by about 1/4. I've also heard from a friend that IBD is also 1/2 overtime, which does seem absurd.
60K prorated biweekly + 1/2 OT passed 40 hrs.
~73K USD prorated salary
free airfare plus other travel expenses free boarding
I'll be interning at the same bank (I think) as Revsly, but they don't offer overtime here in London:
£3,000/month + £1,000 relocation.
Just my 2c.
Sophomore BB, 50K Prorated, haven't heard about signing bonuses or relocation bonuses
HK rent actually works out to be worth at least USD $4k over the 10 wks.
That's right. The usual charge is like $100 per night, but for the banks, the rate is more like 50-60$ which works out to about 4000.
60,000 prorated 2,000 stipend + 1 ½ overtime
Is that a typo? If you're doing IBD, even at 80hrs a week/10 weeks prorated, 1.5x overtime works out to over 30k for the summer, which prorates back to 156k annually, or over 1.5x your original prorated base.
No it doesn't. This would mean that 40 hours per week are being paid an extra .5x per hour - effectively meaning he's getting paid for 20 extra hours per week. This would be an extra 30k prorated - 6k - and would bring total comp to 12k + 6k + the 2k bonus.
Still seems way high - surprising that any bank would comp this way.
From what I've heard, Credit Suisse regional offices pay overtime.
My friends who summered at CS LA and CS SF last year both got paid overtime.
I don't think IBD pays overtime other than your training program. Perhaps S&T because you aren't expected to work as many hours. But generally it seems like 60k + - 10K, and a 2K signing bonus.
is it common to be offered overtime for SA positions? my offer at a big bank was standard (60K +1.5K relocation) but didnt mention overtime... should i have asked them about it?
why ask? Be happy you have a internship and they're paying you anything. I know it sucks that others will be getting paid more then you, but keep in mind others who don't have your opportunity would take 1/8 what you are getting and be happy. We're interns, and easily replaced, why shake things up?
nods you have a point
60k prorated no housing bonus overtime (40+ hrs)
75 base pro rated
summer Associate (1st year mba) BB nyc equity research $95k prorated $2k bonus $1k travel/expense reimbursements for near term travel to NYC for preparation .5x overtime (over 40 hrs.) ($95k/(52wks*40hrs)(.5) = $22.84/hour
BB Houston IBD: 60k + 2k for "transition expenses" :-)
No mention of overtime - I think it's assumed that if you want to haggle for overtime, you should be working a 9-5 job.
I'm curious about the perks this year...Blackberries? laptops? Anyone with info on this?
BB in HK.
~$60k USD prorated. Roundtrip ticket.
Haven't heard anything about housing yet - HR said they will get back to me on it.
Roundtrip ticket - nice. Plus lower living costs in HK - nicer.
Why didn't I get in on this exodus to the East earlier?? FML.
:-D
It surprised me when I found out that the cost of living in HK is actually on average 20% more expensive than NYC. Makes sense I guess for HK having so many people in such a tiny city.
Should be a fun/interesting summer though - I'm thinking of maybe doing a little traveling in SE Asia/Australia after the 10 weeks are over.
srsly? Well, I retract my previous comment then. My bad.
FT2009: srsly? HK 20% more expensive? Well, I retract my previous comment then. My bad.
actually, except for rent being at the same range (possibly more expensive or cheaper, depending where you find etc), cost of living in HK is cheaper. e.g. food, tax(if you're not a US citizen, so your tax doesnt get eaten, but i think you do get exemption to a certain pt?)etc.
oh well, i g2 update mine since i think i am walking away from my previous offer...
a top restructuring group in NYC (think HLHZ, Blackstone), early june to early august. $60,000 prorated, no signing bonus (wth?).......
HOW MUCH OF A FUCKING TOOL ARE YOU??!??@#!?$#?#$!@ seriously catch aids from the ass ramming you get every night and just die already.... Like really dude, do you not read the bullshit you spew...???
right, and this is coming from a non-target kid who would be working in the back office of Bank of America...so...yea, fuck you. Sadly, the reality is, your offer sucks. I know it's just an SA offer...but I guarantee you that so far I have been more successful in life than you. I scored very high on my SATs, high HS GPA, got into the best b-school, received multiple offers and just verbally accepted an offer from perhaps the most prestigious firm...etc etc etc. The fact is, I am better than you and I am here to just rub it in your face.
I never once said my stats were "impressive"...also my parents never had to pay for anything except my car and my first year in HS, although I had more then enough money to do so. OMG mother jokes.... I'm so hurt, I just may cry... and yes I am the fucking tool between us, sure ok! I'm done London, you WIN! you have now beaten me down on an internet forum. YOU are the bigger man. Go brag to all your "friends" and "contacts" how you out witted a state schooler, who's mother is a hooker that you frequently use! Ah sir, i am no match for you, I wish that one day I can be just like you.
Food for thought: I lived life and done things many people can not say they did and will continue to do so. You did not nor will you ever. People actually like me in real life, and I'm pretty sure when they look at me they don't think douche bag (can't make any promises here). I don't think the same can be said about you. Actually the 1260 could have even been lower (i know it was 12 something) and guess what!??! had it been 1100+ I would have been happy, because I don't measure my success from my grades, but rather what I have accomplished and will accomplish. Sadly London I will never be the man you are... but I would rather die then become the man you are. I hope you feel good about yourself sitting all alone at night having no one to hang out with, waiting for the next time the finance society has a meeting so you can show them your dominance! This will be the last post I write so go ahead insult me! give it your best, because in the end....you honestly don't matter....
Tell me some of the things you have done so far in your life that I could not dream of doing. All you can come up with is your manifestation of who I am as a loner, a finance geek possibly, who scored high on standardized tests...whereas you who is of course popular, liked, and inevitably had to score low for your life has always been so full of circle jerks with your friends at night (around the time when I, the loner, stays in his room all alone either lashing out his social frustration on him or studying up for his rocket science finance exams). regardless, there is one thing that still holds true - you are an underachiever. yes indeed, it's been a great fight. gee, can't you even win an online forum fight? what the fuck are you good at?
hahahaha - LondonE1, I just joined this forum, and already I can see that you are just the schmuck of the world. Extremely entertaining, but a schmuck nonetheless. You remind me of this friend (at an Ivy, no less) of mine who got a Barclays S&T job and loves to talk about how much money he's making.
I hope you grow up some day, and realize that these silly little online dick-measuring contests will lead you nowhere significant in the long run. As Nigel Powers said in Goldmember: "It's not the size, mate. It's how you use it."
Cheers, buddy. Remember all of us little folk when you're swimming in your giant pool of gold coins in a year or two.
Making fun of public schoolers with lower GPAs/SAT scores. Psh. How juvenile.
china girls are mad cheap. "one dalla boom boom"
Assumption (USD): Total compensation: $120,000
Food $2 - breakfast in China $5 - Lunch $8 - Dinner =$15 * 365 = $5,475
Rent $2,000/mo =$2,000 * 12 = $24,000
Misc. $24,000 per year
Expense: $53,475 Left over for "boom boom" with China girls: $66,525
$1 per China girl
Now, that's nearly 66,000 china girls. they are cheap but durable. don't be fooled by their petite size
I haven't been there yet. Can anyone who's been to China confirm this?
London if you just recently interviewed at Blackstone for restructuring theres a good chance I can find out who you are.
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