How much does an intern get paid an hour?

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From my own experience, I worked 6.30 - 4.30 every day, and took an hour's break => 9 hours a day => 45 hours a week
I was paid 825 a week, which comes out to £18.33 an hour.

(P.S I dont think your meant to take an hour's break though, or leave right on the dot at 4.30)

Reply 2

iheartmondays

OP

10

Original post by babafagucci

From my own experience, I worked 6.30 - 4.30 every day, and took an hour's break => 9 hours a day => 45 hours a week
I was paid 825 a week, which comes out to £18.33 an hour.

(P.S I dont think your meant to take an hour's break though, or leave right on the dot at 4.30)

:O :O oh woow!! where did you work?

Reply 3

Intriguing Alias

16

Original post by iheartmondays

:O :O oh woow!! where did you work?

I think regularly people work more like 12 hours a day and I think the pay is 42000 per year. For 10 weeks you get £8080

So £808 a week for 60-72 hours (sometimes work a day of the weekend I believe). If we take that at 60 hours that's £13.50 per hour.

All calcs are approximate - and this is what I've heard from many people on internships and so isn't representative of hours worked on all internships. Remember it depends which department you're in.

Reply 4

Lozza_00

14

I thought the whole point of being an intern is that you don't get paid?

Reply 5

DeeDub

15

Original post by Lozza_00

I thought the whole point of being an intern is that you don't get paid?

Not in Investment Banking all summer internships are paid. Unpaid internships are common in creative industries where they use you as the office dogsbody.

(edited 12 years ago)

Reply 6

DeeDub

15

Original post by babafagucci

From my own experience, I worked 6.30 - 4.30 every day, and took an hour's break => 9 hours a day => 45 hours a week
I was paid 825 a week, which comes out to £18.33 an hour.

(P.S I dont think your meant to take an hour's break though, or leave right on the dot at 4.30)

You also have to account for income tax and NI.

Intern salaries range from about £32k-£45k pro rata and you will be in the office somewhere between 50 and 100 hours per week. These numbers depend on the department/desk/bank/time of the month and whole range of other factors.

(edited 12 years ago)

Reply 7

DerPumuckl

8

Original post by babafagucci

From my own experience, I worked 6.30 - 4.30 every day, and took an hour's break => 9 hours a day => 45 hours a week
I was paid 825 a week, which comes out to £18.33 an hour.

(P.S I dont think your meant to take an hour's break though, or leave right on the dot at 4.30)

I respected you previously already, but this brings tears to my eyes, well done! An hour's break! OMG! :smile:

Reply 8

100

1

£42,000 / 52 * 10. But then add on 12% for holiday pay.

Reply 9

babafagucci

3

Haha I had to eat, and screw this eating at desk culture

Reply 10

therealOG

2

Original post by DeeDub

Not in Investment Banking all summer internships are paid. Unpaid internships are common in creative industries where they use you as the office dogsbody.

Don't they do that in IB internships as well?

Reply 11

DeeDub

15

Original post by therealOG

Don't they do that in IB internships as well?

Yeah they can do. It depends on the department, but at least you are getting paid to be the dogsbody.

Reply 12

KLL

11

Original post by DerPumuckl

I respected you previously already, but this brings tears to my eyes, well done! An hour's break! OMG! :smile:

did that aswell... working longer hours tho.

Reply 13

DerPumuckl

8

Original post by KLL

did that aswell... working longer hours tho.

Unbelievable. :angry:

I know Babafagucci's bank, where were you at?

Reply 14

DeeDub

15

Some people go to the gym at lunch for an hour or so. No big deal.

Reply 15

DerPumuckl

8

Original post by DeeDub

Some people go to the gym at lunch for an hour or so. No big deal.

In what divison? I'd like to see a trader go for an hour to the gym! At least at my bank leaving the desk for food was frowned upon.

(edited 12 years ago)

Reply 16

DeeDub

15

Original post by DerPumuckl

In what divison? I'd like to see a trader go for an hour to the gym! At least at my bank leaving the desk for food was frowned upon.

Yeah not trading. But the traders did leave their desks admittedly not for very long. I interned in a product control team so the work peaked at the start and end of day with a bit of lull in the middle depending on what was going on that day meaning such things were possible. Some days when I was busy I would eat at my desk and read the news or something but others I was able to have a leisurely lunch. The thing with my job was that it was difficult to predict at 11.30am which sort of day it would be which made lunch plans difficult.

My grad job might be different as it is different from what I did when I interned but I will just have to wait and see.

(edited 12 years ago)

Reply 17

babafagucci

3

I guess leaving the desk for lunch at most trading desks aint really a good thing, and most interns do eat at their desk. However, the way I saw it, I would be eating at my desk staring at a bloomberg screen, watching the news flow. Really, what would be the point?

How much does an intern get paid an hour?

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