<p>a) are any of your expenses paid or do you receive any sort of payment for summer internships at banks and what not?</p>
<p>b) what sort of gpa is necessary, and when does the app process begin?</p>
<p>a)They usually pay you and pay for your board and sometime food</p>
<p>b) 3.7+ (I've also heard 3.5+)</p>
<p>If you go to a target school, I'd say 3.5+ is what you should aim for.</p>
<p>what if you go to somewhere like Indiana University.. the Kelley school of business..</p>
<p>how much is the pay usually?</p>
<p>i heard they pay u just like a full time analyst... so if you work there for 8 weeks.. you get a salary of 8 weeks worth of full time analyst plus bonus....</p>
<p>You don't get bonus. You are paid a set amount for the typical 10-week internship. The amount depends on the firm.</p>
<p>signing bonus</p>
<p>Forgot about signing + relocation. You might get overtime as well.</p>
<p>so then, which banks pay the best? can anyone name some numbers?</p>
<p><em>Sigh</em> most bulge bracket investment banks pay the similar amount to their summer analysts.</p>
<p>I was paid a 60k prorated annual salary ($2300 bi-weekly pre-tax) + signing bonus/housing stipend; You will find that package consistent across the Street.</p>
<p>The signing bonus paid by the banks can range from $2000 to $4000 (with the $4000 really being an outlier as only one BB pays that amount and $2000 being more of the norm)</p>
<p>If you seek summer employment at boutiques or middle market banks, you will discover that some pay above Street salary and offer end of the summer bonuses.</p>
<p>are internships typically 10 weeks or 8?</p>
<p>How much of a housing stipend are we talking about?</p>
<p>juliushark,</p>
<p>Most bulge bracket internships are 10 weeks with Lehman Brothers being the exception (8 weeks)</p>
<p>Weasel8488,</p>
<p>As I said earlier, the signing bonus/housing stipend paid by the banks can range from $2000 to $4000 (with the $4000 really being an outlier as only one BB pays that amount and $2000 being more of the norm)</p>
<p>Oh so the signing bonus and housing stipend are one and the same? That sucks.</p>
<p>What kind of students do the BBs take as interns? Other than a high GPA? ECs count? Can someone just list some of the things the BBs consider when choosing the interns?</p>
<p>well you know, they have to be little go-getters who stop at nothing to feed their greed....lol...jk....there are tons of threads describing all of this..use search</p>
<p>Usually around 60k prorated as the earlier poster stated.
For investment banking, from what I've seen, expenses ARE covered. (At least mine were...)
After 6 pm, free $30 dinner. After 8 pm, free cab ride home.
All business trips are obviously covered.</p>
<p>YOU-- my D just completed an internship at Goldman. Her EC's apparently very much mattered. When she made the second round for her interviews in NYC, her interviewer (later assigned mentor) remembered her as "the young lady who dances and does tax preparation for low income on Saturday's". She is not a business major and has never taken an accounting or finance course. (Why she is doing tax prep is another story--but she is IRS certified) </p>
<p>Her GS internship was a major success (from all she was told). She is also taking her first accounting course this next semester and taking finance spring semester. She expects to be asked back to GS next summer.</p>