[BSc.Pro.Logic]

Hi,

I've recently accepted a summer Internship at an Asset management firm in London (AUM over $9bn, also not naming it for now ) working in the Technology division (IT). I'm wondering what to expect in terms of pay and working hours as I'm not too familiar with the industry. I'll be 17 when I start and 18 a week into the internship.

Mainly I have two questions:

1. What pay should I expect? I've heard different things ranging from £600 a week to £900 a week . Based on the firms AUM what would you expect?

2. What hours does the technology division work? I've heard for this it's pretty much standard 9-5?

Would be glad if anyone has some information on this. Also if anyone wants to share their experience of working as an IT intern in AM, that would be great too

[M1011]

You're expected the equivalent of a 31k - 46k annual salary at the grand old age of 17 on an IT internship? Perhaps I'm mad, but that seems a little much? For a standard 9-5?

[BSc.Pro.Logic]

(Original post by M1011)
You're expected the equivalent of a 31k - 46k annual salary at the grand old age of 17 on an IT internship? Perhaps I'm mad, but that seems a little much? For a standard 9-5?

I agree, I've heard things ranging from £600 to £900 but I'm actually expecting something more along the lines of £400 a week because even £600 a week does sound a bit much. I'm actually asking what pay I should expect, not saying that I'm expecting £900 a week at 17 LOL. And also I don't think it's a standard IT internship, hence why I've heard those figures, but then again I'm not sure...just asking for some advice here. Oh and I also should of stated it's a summer internship.

[ChevalBlanc]

How can you not know what you'll be paid if you've already accepted the offer?

[BSc.Pro.Logic]

(Original post by ChevalBlanc)
How can you not know what you'll be paid if you've already accepted the offer?

They are writing up the contract . Would it be rude to ask them in advance?

[Regent]

(Original post by BSc.Pro.Logic)
They are writing up the contract . Would it be rude to ask them in advance?

Yes.

[Hackett]

Just wait for christ sakes, this is a pointless thread.....

[BSc.Pro.Logic]

(Original post by Regent)
Yes.

Yeah that's what I thought.

(Original post by Hackett)
Just wait for christ sakes, this is a pointless thread.....

I'm not asking to know the amount. I'm asking so when they do give the amount I can make a comparison in case they are paying a huge amount less than they should. It has happened in the past to people so I'm just trying to get some information in advance...

[M1011]

(Original post by BSc.Pro.Logic)
I'm not asking to know the amount. I'm asking so when they do give the amount I can make a comparison in case they are paying a huge amount less than they should. It has happened in the past to people so I'm just trying to get some information in advance...

I really wouldn't focus on the money. The point of a summer internship is to gain experience and make you employable, so that you have a shot of getting a permanent position later on. I don't think whether they decide to pay you £100 a week or £900 a week should really affect your decision in this matter, you're main reason for being there is surely not the few weeks worth of money.

[BSc.Pro.Logic]

(Original post by M1011)
I really wouldn't focus on the money. The point of a summer internship is to gain experience and make you employable, so that you have a shot of getting a permanent position later on. I don't think whether they decide to pay you £100 a week or £900 a week should really affect your decision in this matter, you're main reason for being there is surely not the few weeks worth of money.

Yeah I'm definitely doing this for the experience and not the money. This is actually the first time I'll be working so I'm really happy for the opportunity. It may seem that I'm more concerned about the money, but I'm simply just curious. If it was an unpaid internship I would still do it!

[ttoby]

I've done a similar sort of thing in IT. I won't go into all the details but around £200-£300 per week should be fairly realistic. I normally work 9-5 with one hour for lunch.