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    (Original post by Good bloke)
    Very few will get £900 gross. £750 would be pretty good.
    42 + 1 for 10 weeks implies 807 per week for the 42 and 100 per week for the 1 implies 907 per week combined gross pay.
    edit: oh someone owned you about this already
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    This is the dream :

    http://www.panpeninsula.com/swf/pp_main.swf
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    (Original post by Good bloke)
    Very few will get £900 gross. £750 would be pretty good.
    I think some of the very competitive roles at some firms pay upwards £900 gross, but most people I have spoken to are getting around £750-850.

    It is quite complicated to calculate your net pay. It depends on whether you have already earned any money in the tax year. The salary (not including re-location pay) over the 10 weeks at BarCap falls just below the threshold for income tax so you will only pay NI on the salary and income tax will only be on the re-location fee.

    I would quite like to live reasonably close to the Docklands, but I might check with my friends at Uni there whether they have any free rooms. Like others have said I want to budget so that I get the salary and the re-location money goes on living expenses.
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    (Original post by cruel3a)
    Well the offer is for the finance dep and I think it is a mixture of MO and BO...
    Were you at the same AC as me on the 25th?

    At BarCap Global Finance seems to be a bit of Front, Middle and Back Offices depending on what you are doing.
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    nomura ibd = 800/week
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    No DeeDub, my AC was on the 18th...

    (Original post by DeeDub)
    Were you at the same AC as me on the 25th?

    At BarCap Global Finance seems to be a bit of Front, Middle and Back Offices depending on what you are doing.
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    Where can one live cheaply in Canary Wharf? Am I right in saying that BoAML have their trading floor in Canary Wharf?
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    (Original post by Teenage Pirate)
    42 + 1 for 10 weeks implies 807 per week for the 42 and 100 per week for the 1 implies 907 per week combined gross pay.
    edit: oh someone owned you about this already
    Hoho. What proportion do you think will be on those rates of pay? Not all that many. You are assuming the best to be the norm, which is obviously not the case.
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    (Original post by DerPumuckl)
    Where can one live cheaply in Canary Wharf? Am I right in saying that BoAML have their trading floor in Canary Wharf?
    I thought BofAML was at the old ML hq down near St Pauls? I know its now been rebranded to BofA from ML anyway.
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    I'm not sure, i guess i should have asked. I guess my contract will say. I interviewed at Swan Lane which isn't where the trading floor is.
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    the cheapest you will get in zone one are in Unis halls, UCL halls are great and are about 130 GBP per week.
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    (Original post by Good bloke)
    Hoho. What proportion do you think will be on those rates of pay? Not all that many. You are assuming the best to be the norm, which is obviously not the case.
    Pretty much anyone in Front Office, which is probably about 50% of interns. Good bloke, I don't have anything against you, but I don't get why you come in here and make statements regarding things you don't have clue about. What's your experience with Investment Banking internships and salaries? There are people here who have done internships and know the actual figures. This is exactly why IB&C needs a dedicated moderator.
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    (Original post by cruel3a)
    No DeeDub, my AC was on the 18th...
    Well we probably bump into each other in the summer.
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    (Original post by awm55)
    the cheapest you will get in zone one are in Unis halls, UCL halls are great and are about 130 GBP per week.

    More like 210 GBP/week according to their webpage. And that´s like the cheapest option. That´s pretty expensive...
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    (Original post by chessguru86)
    More like 210 GBP/week according to their webpage. And that´s like the cheapest option. That´s pretty expensive...
    what? i was in UCL halls in Camden last summer for 90 GBP per week. I go to UCL so perhaps I get a student/alumni rate?
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    (Original post by loggins)
    Pretty much anyone in Front Office, which is probably about 50% of interns.
    Which confirms my point that the average intern's salary won't be £900 per week, doesn't it? Or isn't numeracy a necessary skill in banking now?
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    (Original post by awm55)
    what? i was in UCL halls in Camden last summer for 90 GBP per week. I go to UCL so perhaps I get a student/alumni rate?
    I guess u got some kind of student UCL student rate. These are the prices and halls for 2010.

    http://www.ucl.ac.uk/residences/prices/individual-rates
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    (Original post by Good bloke)
    Which confirms my point that the average intern's salary won't be £900 per week, doesn't it? Or isn't numeracy a necessary skill in banking now?
    Yes, however, when you factor in the idea that the majority of people on here seem to be interested in Front Office rather than Back then knowing the salary of the former is more important. Furthermore, a 32-35k salary (standard for Back Office) scaled down pro rata with 150-200 a week living allowance is still in excess of £800 a week before tax

    Also, you haven't really answered my question as to what qualifies you to chip in with your 'guesstimates' (since that's what they are really)? Not having a dig, just curious..
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    (Original post by jakezg)
    This is the dream :

    http://www.panpeninsula.com/swf/pp_main.swf
    Furnished Studios from £275 pw. Not that bad considering.
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    (Original post by Good bloke)
    Which confirms my point that the average intern's salary won't be £900 per week, doesn't it? Or isn't numeracy a necessary skill in banking now?
    About 75% of IB internships pay in the range £850-950pw before tax and including allowances. Notable exceptions are Nomura and RBS, but I'm not aware of any others. I know for a fact JPM, GS, UBS, Macquarie, Barcap are in excess of £900pw.

    Most banks also pay BO interns the same base-rate as FO interns, making your point irrelevant.
 
 
 
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