[Ram92]

I know that you shouldn't care about salaries but this is more about comparing the different roles within an Investment bank.

I was wondering what summer internships salary and also the salary as an analyst after university you would typically receive in the different areas. Such as IB, sales and trading etc.

[SW1X]

(Original post by Ram92)
I know that you shouldn't care about salaries but this is more about comparing the different roles within an Investment bank.

I was wondering what summer internships salary and also the salary as an analyst after university you would typically receive in the different areas. Such as IB, sales and trading etc.

lolz who the hell doesn't care about their salary? In the City everyone cares about their salary....

[PoorRichBoy]

(Original post by Ram92)
I know that you shouldn't care about salaries but this is more about comparing the different roles within an Investment bank.

I was wondering what summer internships salary and also the salary as an analyst after university you would typically receive in the different areas. Such as IB, sales and trading etc.

For analysts, anywhere between £32-50k depending on role and tier of bank.

[effofex]

ordinarily approx. GBP 45k base.

[i_hate_teeth]

(Original post by effofex)
ordinarily approx. GBP 45k base.

Whats the overall comp? 45k sounds really bad to me...for a year's work.

[Xenite]

Not sure about the financial side of it (which is probably what you're after.. sorry) but I've heard of a small number of Loughborough's Computer Science students on their industry placement year (at IBs) earning ~£40k (in London) at max.

[TomasK]

(Original post by i_hate_teeth)
Whats the overall comp? 45k sounds really bad to me...for a year's work.

Everything is usually equal on both sides of the pond, so the 70K USD base is the norm. Bonuses were as low as 20K USD at some places, so your overall comp might not exceed 55 grand.

[i_hate_teeth]

(Original post by TomasK)
Everything is usually equal on both sides of the pond, so the 70K USD base is the norm. Bonuses were as low as 20K USD at some places, so your overall comp might not exceed 55 grand.

Wow, seriously? I had no idea the comp was that low. Is that for FO roles?

[und]

I really don't understand how £55,000 per year is low for someone who's just got a job. What were you honestly expecting?

[Ram92]

(Original post by und)
I really don't understand how £55,000 per year is low for someone who's just got a job. What were you honestly expecting?

When you work 70 hours on a good week and 100 on a bad week then 55,000 can be around £12 a hour where you can get £15+ in other industries.
However its all about you later years in IB

[Bill_Gates]

(Original post by Ram92)
When you work 70 hours on a good week and 100 on a bad week then 55,000 can be around £12 a hour where you can get £15+ in other industries.
However its all about you later years in IB

IF there are later years in IB.

[und]

(Original post by Ram92)
When you work 70 hours on a good week and 100 on a bad week then 55,000 can be around £12 a hour where you can get £15+ in other industries.
However its all about you later years in IB

100 hours a week sounds fairly unlikely unless you did some all-nighters. To be fair I do see the lights on through the night in the office blocks in the City so perhaps it's not that unusual. Still, £12 per hour is nothing to be sniffed at, considering in this economic climate a new graduate is lucky to even have a job in a position that suits their degree and potentially has good future prospects.

[Ram92]

(Original post by und)
100 hours a week sounds fairly unlikely unless you did some all-nighters. To be fair I do see the lights on through the night in the office blocks in the City so perhaps it's not that unusual. Still, £12 per hour is nothing to be sniffed at, considering in this economic climate a new graduate is lucky to even have a job in a position that suits their degree and potentially has good future prospects.

You would be surprised by the hours. 100 hours a week can be standard depending on the company. 85 would be more likely overall.

Yeh I can see what you say £12 is good however when you are talking about people that are probably some of the most focused and intelligent people at the top courses in the country then it may be a bit lower than they wanted.

To me I would be happy with that (I think :P)!

[Ram92]

(Original post by Bill_Gates)
IF there are later years in IB.

True say! A lot of people do not make it. Quite a few take an early exit opp. You never know where you are going to end up year on year.

[Mirey]

(Original post by Ram92)
You would be surprised by the hours. 100 hours a week can be standard depending on the company. 85 would be more likely overall.

Yeh I can see what you say £12 is good however when you are talking about people that are probably some of the most focused and intelligent people at the top courses in the country then it may be a bit lower than they wanted.

To me I would be happy with that (I think :P)!

If you want pay/hour tech is probably up there, a lot less stressful as well.

Even as a tech intern i was getting ~£25/hour. Hours are pretty standard, and unless you have a release then there's no need to work late. Then in 4,5,6 years time you become an contractor and get paid a crap ton (if you're so inclined)

Though in tech it's possible to get that not in a bank as well...

[und]

(Original post by Mirey)
If you want pay/hour tech is probably up there, a lot less stressful as well.

Even as a tech intern i was getting ~£25/hour. Hours are pretty standard, and unless you have a release then there's no need to work late. Then in 4,5,6 years time you become an contractor and get paid a crap ton (if you're so inclined)

Though in tech it's possible to get that not in a bank as well...

Tell me more about this. I'm going to study Mathematics but I'm open to the idea of taking some discrete maths modules and teaching myself programming. Is this area of work something that might interest me? I haven't really thought much about what I might do after university, so I'm open to all kinds of ideas.

[ChevalBlanc]

(Original post by Mirey)
If you want pay/hour tech is probably up there, a lot less stressful as well.

Even as a tech intern i was getting ~£25/hour. Hours are pretty standard, and unless you have a release then there's no need to work late. Then in 4,5,6 years time you become an contractor and get paid a crap ton (if you're so inclined)

Though in tech it's possible to get that not in a bank as well...

You got >£4K/month as a tech intern? Or did you work like 6 hours a day? Sounds unrealistic either way.

[Mirey]

(Original post by und)
Tell me more about this. I'm going to study Mathematics but I'm open to the idea of taking some discrete maths modules and teaching myself programming. Is this area of work something that might interest me? I haven't really thought much about what I might do after university, so I'm open to all kinds of ideas.

You wouldn't need to take discrete maths, just program in your spare time on stuff you like, so you have at least a basic understanding. You don't have to do any programming modules at uni, but definitely try and do some programming in your spare time, to see if you even like it. I'd say to do it in a bank you'd need to at least like finance a bit, though there are a few people who don't really care, it's just programming. I'd say Maths is a good degree to do, just make sure you get group/team work outside of uni since I doubt you have much in uni. If sports isn't your thing, helping out an open source project will get you big kudos

FO people will always get paid more, but remember, it's a lot more stressful. And it's not as if the pay is exactly bad...

If you don't want to work in a bank, there are always the Googles and Facebooks. If you want some work experiance, try hunting down some local web development companies, they're normally up for exploiting students
My friend was effectively on a £30k pro rata rate, though he's pretty exceptional, but £10/£15 as a student is fairly standard, though you should learn to program first (check out php/drupal)

Though remember, YMMV

If you're new to programming, check out the free Stanford online classes on it, I've not done the starter courses, but the few of the ones I've looked at have been awesome.

(Original post by ChevalBlanc)
You got >£4K/month as a tech intern? Or did you work like 6 hours a day? Sounds unrealistic either way.

9-5 every day + 1 hour for lunch. Though I typically stayed 8.30 - 6, but I took my full lunch hour throughout the day, probably more on some days, but most managers appreciate that you can't be programming/thinking the whole time you're at work without producing buggy/crappy code. Same goes for staying much longer than that. As long as you deliver what they expect, in a time frame they expect they're happy. Work harder and do stuff quicker and they love you

7.5 hours a day, 5 days a week, 12 months a year, - 5 weeks holiday - the rate was pro rata'ed to that, including holiday.

But you're right, it was more like £23 I guess (7.5*23*5*48 ~= £41.5k)

[i_hate_teeth]

(Original post by und)
I really don't understand how £55,000 per year is low for someone who's just got a job. What were you honestly expecting?

I'm in a different situation to most on here, in terms of career prospects.

You are correct £55,000 is not low for someone who is employed in an entry level job, but to me £55k pa would be a huge step backwards. Also, after tax and NI you're looking at about £32k.

[Mirey]

(Original post by i_hate_teeth)
I'm in a different situation to most on here, in terms of career prospects.

You are correct £55,000 is not low for someone who is employed in an entry level job, but to me it would be a huge step backwards. Also, after tax and NI you're looking at about £32k.

http://career-advice.monster.co.uk/s...s/article.aspx

So easy, either invest the time if you think you'll be good at it (and will make a ton), or stay where you are.

But to dismiss it as "low" is more than ludicrous.