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    (Original post by DerPumuckl)
    What does that mean? Could you elaborate?
    National insurance contributions: they account for around 10% of your pay.
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    (Original post by Good bloke)
    Very few will get £900 gross. £750 would be pretty good.
    Actually most places I know will pay just over £900/week after tax this year, taking into account personal allowance and tax brackets from: http://www.hmrc.gov.uk/rates/it.htm
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    (Original post by Good bloke)
    National insurance contributions: they account for around 10% of your pay.
    Ah I see. Thank you.
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    (Original post by onthecoast)
    Actually most places I know will pay just over £900/week after tax this year, taking into account personal allowance and tax brackets from: http://www.hmrc.gov.uk/rates/it.htm
    Can you link to a reliable source for that? I think it highly unlikely that a gross salary of more than £50,000 pro rata is on offer in many places for student placements.
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    (Original post by Good bloke)
    Can you link to a reliable source for that? I think it highly unlikely that a gross salary of more than £50,000 pro rata is on offer in many places for student placements.
    It's £40 or £42k depending on the place - and plus £2k or £1k for living respectively.
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    (Original post by onthecoast)
    It's £40 or £42k depending on the place - and plus £2k or £1k for living respectively.
    And how much do you think £40k works out at per week? Certainly not as much as £900.
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    (Original post by Good bloke)
    And how much do you think £40k works out at per week? Certainly not as much as £900.
    Including living allowance over 10 weeks it does, but I don't wanna go through it here. I've just done it when I posted before and you can do the same easily.
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    Salaries are ranging from £36+1 at CS to JPM at £42+1 with the others inbetween. Barcaps is 40+2. Before tax and NIC, barcaps is £769pw, considering tax rates of 20% on up to 37k (more than likely to be emergency tax for a while.. though we can claim it back come next April) and NIC, likely to be around net £500pw. Then we have the 2k relocation 'bonus' which will be taxed and taken down to around £1400/1450.

    Given that we have a personal allowance of £6475 and i havent earned anything this year, ill only be taxed on around £3000 at the end of the day (not taking into account NIC for the entire £9700 gross salary). Its likely that take home at the end of the summer will be around £6500, eventually going up to around £8000-8500 by next april after tax is claimed back.

    Do correct me if im wrong on anything but after faffing around with tax claimbacks for the past however many years that should be right.
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    (Original post by JakeF)
    Do correct me if im wrong on anything but after faffing around with tax claimbacks for the past however many years that should be right.
    I hate all this tax stuff I really don't understand it.. I'm not from this country so have zero idea of the mechanics of the tax or NIC.

    Cheers for clarification!
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    (Original post by Good bloke)
    You seem to have a false idea of what interns earn. The pay is truly excellent but not commonly anywhere near that high.
    It is at BarCap this year....

    well, give or take a grand, ignore taxes for a second, etc lol
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    I have another question, will it make a difference in how much I pay on an Oyster Card if i live in Zone 1 or 2? And how much should i estimate for the 9 weeks for transport?
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    (Original post by DerPumuckl)
    I have another question, will it make a difference in how much I pay on an Oyster Card if i live in Zone 1 or 2? And how much should i estimate for the 9 weeks for transport?
    If youre at a bank in Canary Wharf, your best bet is the monthly travelcard for Zones 1-2 + Bus (bus comes included, you have no choice) and is around £105 per month. Students in London get the student oyster which knocks off a 1/3 so we get it for around £70 a month. If you can borrow one off a friend who lives in London and wont be using it, then do it. Either way, itll be cheaper than topping up and paying for single journeys. And it saves you a lot of hassle and time.
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    (Original post by JakeF)
    If youre at a bank in Canary Wharf, your best bet is the monthly travelcard for Zones 1-2 + Bus (bus comes included, you have no choice) and is around £105 per month. Students in London get the student oyster which knocks off a 1/3 so we get it for around £70 a month. If you can borrow one off a friend who lives in London and wont be using it, then do it. Either way, itll be cheaper than topping up and paying for single journeys. And it saves you a lot of hassle and time.
    Hi, no its in the city. So that's flatrate then? I am looking at the tfl website right now and there seem to be many options indeed.

    Thanks for the tipp about UoL students, i think i know a few.
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    Either way, youll be buying a tube travel card, you wont want to use buses in the summer unless you can help it. Correction its £99.10 for an adult monthly zones 1-2 and £69.20 for students.
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    (Original post by JakeF)
    Either way, youll be buying a tube travel card, you wont want to use buses in the summer unless you can help it. Correction its £99.10 for an adult monthly zones 1-2 and £69.20 for students.
    Ah yes thanks. I'll give you rep tomorrow if you want. Gave out some today already.
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    Just checked UCL accomodation over the summer. That´s still kind of expensive. The cheapest single rooms were about 30/night...
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    (Original post by DerPumuckl)
    Oh it will? Damn.... what would uni housing cost do you think? The few people i know in London do not have any spare rooms I believe.
    I believe Imperial the cheapest (and hence oldest/********) hall they let out was about £120. The person who said Imperial halls are £180-£200 that is true, but as far I'm aware they don't let those out in the summer to people interning in London over the summer I think it's for conference guests and stuff that are held at the uni over the summer.

    For those interning in investment banking, paying ~£150/week is surely not a big deal. The banks offer the highest paid internships, right?
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    BarCap 40K+2?!?!
    They offered me "just" 33K+2K. :-(
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    (Original post by cruel3a)
    BarCap 40K+2?!?!
    They offered me "just" 33K+2K. :-(
    I take it that isn't FO?
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    Well the offer is for the finance dep and I think it is a mixture of MO and BO...
 
 
 
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