Summer Analyst Salary and Negotiation?

Does anybody know what is the average compensation for a 10 week summer analyst program and is there any room to negotiate? If so, what can you base it on and how much can you expect to get?

I got an offer with Bear and it would be helpful to know the numbers across the board. Thanks!

 
Best Response

Never heard of anyone doing this successfully... IBD is VERY rigid. Other finance jobs give you more room to negotiate, but everything is very standard and orderly in banking. Senior level people may have some room to negotiate salaries but an analyst, especially a summer analyst, does not.

As far as compensation, $10-15K is usually what's expected for a 10-week summer analyst internship.

 

What if the offer letter doesn't state anything about overtime? Nothing about regular working hours, average overtime hours, overtime pay... do you assume the p.a. salary is overtime inclusive, or that they'll tell you overtime pay when you start working, or that it's assumed to be 1.5x?

We're Italian, "WACC" means something else to us.

We're Italian, "WACC" means something else to us.
 
What if the offer letter doesn't state anything about overtime? Nothing about regular working hours, average overtime hours, overtime pay... do you assume the p.a. salary is overtime inclusive, or that they'll tell you overtime pay when you start working, or that it's assumed to be 1.5x?

Most banks do not pay overtime. If your offer letter doesn't list overtime, then you can be very sure that won't receive it. Usually bonuses for FT employees and a good reflection of hours worked/work ethic.

 

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