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    How big a part for you does salary play in choosing which offer to accept? And what is on the market atm? The ones I know of (all IBD):

    JP Morgan = £42k + £1k relocation = £908pw
    Nomura = £42k + £1k relocation = £908pw
    Moelis & Co = £45k = £865pw
    BoA-Merrill Lynch = £45k = £865pw
    Credit Suisse = £36k + £1k relocation = £792pw
    Rothschild = £38k = £731pw
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    I would be interested to know how much is Macquarie paying this year....
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    I don't think it makes a difference to most people. But Rothschild does seem quite low...
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    Influence for Salary as an intern=0

    Convexity of pay means that anyone who cares about intern pay is either:
    1) interested in banking for a quick buck (i.e. 2/3 years)
    2) An idiot

    As intern whether you earn more as an intern is usually determined by how long you work. I.e. more weeks=more cash, regardless of base.
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    Doesn't play a big part. S&T are in line with those figures too at respective banks.

    Summer packages are usually £42k + £1k relocation at most places (GS, MS, JPM, Citi, DB etc).

    Wasn't aware that BofA-ML pay above market rate but BarCap pay £42k + £2k relocation.

    Obviously boutiques/props pay higher so may be more tempting though trading/IB at a bulge-bracket is usually seen to be the best intro to the industry.

    Often prop shops/boutiques only recruit at grad level and don't offer internships - I think Greenhill offer £60k base +£10k relocation and Tibra offer £120k base.
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    Salary, as said above, should be the least of your worries. And it doesn't matter if you're FO or MO or BO since in the end you will most likely recieve the same amount. MO/BO this year are around the 33k mark prorated with the usual relocation bonus. If works at roughly 700pw, but in the end because you are within your personal allowance you don't get taxed. All of the IBD you mentioned will end up being around the 700-750 mark if taxed (correct me if I'm wrong).

    So yes, another reason why pay shouldn't matter at all. In the end it's all about getting some experience, showing future recruiters on your CV that you're not a lazy a*** during the summer and (hopefully) discovering your true interest in that future career path.
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    (Original post by effofex)
    Doesn't play a big part. S&T are in line with those figures too at respective banks.

    Summer packages are usually £42k + £1k relocation at most places (GS, MS, JPM, Citi, DB etc).

    Wasn't aware that BofA-ML pay above market rate but BarCap pay £42k + £2k relocation.

    Obviously boutiques/props pay higher so may be more tempting though trading/IB at a bulge-bracket is usually seen to be the best intro to the industry.

    Often prop shops/boutiques only recruit at grad level and don't offer internships - I think Greenhill offer £60k base +£10k relocation and Tibra offer £120k base.
    Why the f*** would Tibra give 120k a year to a bunch of kids straight outta uni?
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    Citi is paying £45k
    RBS is paying well above the market.

    As an intern, it really doesnt matter.
    As for Macquarie, from what I know they pay the highest. They were paying their interns over £1000/week a couple of years earlier..
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    (Original post by Zweihander)
    Why the f*** would Tibra give 120k a year to a bunch of kids straight outta uni?
    They don't, base was £60k for '09s I think. Bonus is historically as high as base salary even in your first year.
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    (Original post by ibd_haunter)
    Citi is paying £45k
    RBS is paying well above the market.

    As an intern, it really doesnt matter.
    As for Macquarie, from what I know they pay the highest. They were paying their interns over £1000/week a couple of years earlier..
    your figures relating to Citi and RBS are wrong. At least where IBD is concerned.
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    (Original post by STYX)
    your figures relating to Citi and RBS are wrong. At least where IBD is concerned.
    Citi CMO grad offer = £45k
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    (Original post by ibd_haunter)
    Citi CMO grad offer = £45k

    hmmm. weird-Citi IBD-42K pro rated, but thats for a summer internship. So why the difference?
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    apologies, I thought this was a thread about intern pay
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    (Original post by STYX)
    apologies, I thought this was a thread about intern pay
    it is
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    hmm... i thought interns and grads get paid the same on pro rated. oh well, a couple of thousand dont make much difference
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    (Original post by ibd_haunter)
    hmm... i thought interns and grads get paid the same on pro rated. oh well, a couple of thousand dont make much difference
    totally depends on the bank.
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    If internship pay is the major influence for your choice of bank, then you're a fool.
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    (Original post by ibd_haunter)
    I would be interested to know how much is Macquarie paying this year....
    45k, haven't heard anything about relocation though so I assume there is none.
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    I'm taking the Nomura Global Markets internship in London this summer and I'm getting paid £900 a week (£800 a week + 1k allocation), which is very good!
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    to the OP, that's funny Nomura IBD offered me only 800 pw....am i getting jipped here...
 
 
 
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