Just wondering if anyone has a sense of pay rates for NYC investment banking internships vs London.
Also, if anyone could share their experience as a American working for an I-bank in the UK.
Historically, NY pays better for Associates on up to MD vs. London. The base salaries are relatively close but the bonus pool is richer in NY and trickles down to the bottom at a higher rate. I don’t know whether this is true in the current environment and if it holds true for interns (who are not bonus eligible) so your kid should probably ask Career Development at any college of interest- they likely have last year’s cohort data in front of them.
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NYC IB internship salaries are usually based on analyst 1 pay, prorated for the employment time period. At most bulge brackets AN1 pay is $110k per year. Some banks also pay a relocation bonus to help cover part of the cost of housing.
I would assume that pay in London is less than NYC.
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