The new interns have a starting salary of 150K. They have no experience and no proven work record but given this high salary. Which id--t on the 15th floor at 240G signed off on this? These salaries will throw off the budgets of many LOBs, probably forcing reductions when there is no reason. The attrition is high enough. How can I become an intern?
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To all the nay-sayers, there was an intern in the Jersey City location bragging about his 150K salary, so there it is straight from the horse. Not too surprising. This is just how a-s-backwards this place operates. Maybe the interns sweep the CTOC each day to earn that salary. Who knows.
Jealousy is an ugly thing. These are all well educated career track go getters who are reaping the benefits of their investment in their skill sets, and he compensation is fair.
Better for you to emulate their attitude and work ethic… it’s harder than complaining but you may find a new outlook in life.
My info might be outdated by a few years, but last time I've heard NYC tech interns got 35/hr and the business interns a bit less. Both Pittsburgh tech and business interns was about 10% less, but considering rent was probably a better deal.
To become an intern you should get into a quality business school and take it to the MBA level. Be engaged, study hard and you should be just fine.
People, cmon. No interns are getting paid $150k. They’re getting somewhere in the realm of a yearly salary of $75k (in NYC) annualized to the two months they work here, so roughly $12.5k for the summer. It’s honestly not that much considering what a short term, furnished rental goes for in NYC. Also, $75k is a completely normal starting salary for someone working in NYC right out of college. For lower cost of living cities, the average starting salary is $50-55k for all 4 year college grads.
The only intern program I don’t know about is our MBA intern program. Seeing as your typical top 20 MBA grad (the ones we hire for internships) can expect $130-200k straight out of grad school at most employers, I wouldn’t be surprised if we paid them $150k annualized for the two months ($25k total), but you need to understand that’s totally acceptable pay for these roles.
Starting salary of 150K in Manhattan is nothing. Think back when you started in Manhattan as a schlepp at $80K. 20 years later it’s equivalent to $150K now.
Wait is this serious? Or satire. I’m confused. You’re telling me they’re starting people at 150 right out of college?
Not all of us slacked through college. Only fair to reward the stars in my view.
True, the quality of H1B is hard to deny. We need to hire more of them.
Sounds like we’re finally replacing our retirees with quality workers. It’s been a rough time hiring Gen X, Gen Z and millenials. So this next wave has talent? I like that!
Microsoft and Facebook researches show H1B workers brings 7 jobs each.
They are very correct.
Sponsor more highly skilled H1B workers to make BNY best company.
Are these actually interns or the those rotational/emerging leader positions? Either way, that’s an insulting rate