<p>Vacation? Haha.</p>
<p>The only real week vacation i've heard of are for people in trading, there's a mandatory week off to check your books.</p>
<p>I know at least for your summer internship that its frowned upon to take any amount of time off, even half of a day is still frowned upon.</p>
<p>And 22 dollars an hour or less sounds right. I know one 1st year analyst and he works till 12 am on SUNDAYS. So yes, long hours and lack of vacations are normal.</p>
<p>You guys realize that even when you get into banking, if you want to go into PE/VC/whatever what you do as an analyst still matters right? That means you'll want to be in the top of your analyst class which will require harder work on your part.</p>