<p>Just wondering what the hourly rates/pay are on average for interns at Goldman Sachs, Lehman Brothers, Morgan Stanley, Credit Suisse, UBS, etc.?</p>
<p>Any insight would be appreciated.</p>
<p>$14K for 10 weeks. This means 10K after taxes.</p>
<p>Expect $25-28 an hour for bulge brackets and the Big 4 accounting firms.</p>
<p>Correct with the $14K for 10 weeks, but that doesn't mean 25-28 an hour at BBs...not when you are working 110 hours a week.</p>
<p>It's usually the typical salary prorated (no bonus of course). Comes out to ~1200 a week.</p>
<p>Correct, it rounds out to 25-28 an hour given normal working hours (40). However, as jacknill said, with 110-120 hours a week, it's about McDonald's pay. But it's not the pay that's the most attractive--it's the full time offer and exit opps and being well, a master of the universe as Tom Wolfe puts it.</p>
<p>Since you will be working so much you wont be spending money for the summer outside of rent and 2 meals a day (from the people I've spoken to at BBs they get an expense acct and free car service to and from work) so its a nice little chunk of change.</p>
<p>10K? I'm not complaining...Well maybe I would given my option trading strategies have a decent probability (3/4) of yielding that same amount of money with a lot less of headache. However, those contacts and future opportunities I cannot really monetize...</p>
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10K? I'm not complaining...Well maybe I would given my option trading strategies have a decent probability (3/4) of yielding that same amount of money with a lot less of headache. However, those contacts and future opportunities I cannot really monetize...
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<p>lol good for you- You sound like an annoying prick. funny screenname though....</p>
<p>$60k prorated + $2k housing stipend</p>
<p>^^thats really low for ibanking...is that at a BB or MM?</p>
<p>No, actually its average/slightly above average (interns don't usually receive a bonus cut).</p>
<p>In case you're not aware, prorated means "divided proportionally" so he's saying $5k/month for interns plus $2k housing.
Sounds good to me.</p>
<p>Its good pay. So far, I was only offered $10/hr from a fortune 1000 biotech company for this summer. I'm a sophmore so i'm not complaining much because i'm at a community college and its probably next to impossible to land an Ibanking internship at this level.</p>
<p>you misunderstood my point. For investment banking that is very low. 5k a month is 60k a year, which is ridiculously low for a first year analyst. at bb's an analyst will make twice that. if you are prorating an analysts salary you should be making 7-8k a month in the summer.</p>
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you misunderstood my point. For investment banking that is very low. 5k a month is 60k a year, which is ridiculously low for a first year analyst. at bb's an analyst will make twice that. if you are prorating an analysts salary you should be making 7-8k a month in the summer.
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<p>Notice I said "interns don't usually receive a bonus cut." A first year analyst at most BBs would not make more than 60k salary. The often quoted higher figures are from a signing bonus and year-end bonus. </p>
<p>The usual 60k prorated for ibd and s&t and 45-55k am/pwm is very generous imho.</p>
<p>^^no this is actually incorrect. In fact most analyst have a salary of about $90K and then get a bonus on top of that. That is about 7k prorated. Ask anyone with an offer from a BB for this summer, it is standard to get about 7-8k a month in the summer (and sometimes a houseing stipend/signing bonus of $1,000).</p>
<p>The average salary for an analyst is over 100K with bonus (usually about 120-130 at BBs) and banks dont start giving bonuses that are 100% of your salary until you actually start bringing in deals.</p>
<p>BB and it is standard</p>
<p>lol i love seeing gonsenheim and foxdie! going at it...kinda funny...</p>