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Old 01-05-2015, 09:08 AM
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Originally Posted by Unregistered View Post
thank you for backing me up. it used to be 8-9k for interns in some BBs (like GS, MS etc; summer interns are paid a pro-rated rate of a first year analyst's package) but recently majority of the BBs cut back on their bonuses but increased base salaries. for those of you who don't know, for some of the BBs, pay scale is global. i.e. what a FO analyst gets in NYC is what another FO analyst gets in another city like HK or SG. if you do some research, you'll find that the BBs increased first year analysts' base from 70k USD p.a. to 85 USD p.a. which translates to about 115k SGD p.a...and there you have your close to 10k SGD per month pro rated to 10 weeks for a summer intern.

on top of that, it is well known that majority of the FO interns in BBs here in SG come from universities outside of SG (mainly the ivy leagues and other top tier schools from the UK, Canada etc), so there is also a relocation stipend and housing on top of the base salary.

hope this adds some insight. of course, this only applies to front office (IBD, S&T, research etc) roles.
Thanks for your insight. Does this apply to equity research too? Particularly for GS/JPM/MS.
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