Now that's what I call a job interview!

[MikeH]

I do 40 and barely have time for all the stuff I do outside work.

[Verres]

Good news Drogue

Is it a paid internship?

[Whaleboy]

Nicely done Will

Bit of overkill for the chocolate shop though?

[DanS]

Paid less? Do you guys measure it in millions or something? IIRC, a million dollars is a pretty normal salary+bonus over here, though it starts at nearer $150k.

I don't know. Mind you, the $150k isn't for those right out of undergrad. You've got to put in a couple of years as a galley slave first.

[Drogue]

Bit of an update:

Had the interview, went *fantastically*. They didn't expect us to know anything much concrete, just be interested in it and open to learn. The interview finished about 5 minutes early as she said "The last couple of questions were just about the difference between bonds and equities, but I think you've answered them pretty well alread" - I'd just finished on an argument of the relative risk/return levels of corporate vs. government bonds.

I love people asking me about investment, nobody seems to expect a 20 year old student to have a clue about it

So pretty hopeful of getting to the 3rd stage (assessment centre), though I know it's tough.

Originally posted by Saras
It VERY depends on which department you end up in. M&A analysts/associates have no life and 16 hour days are the norm. Fixed income/derivatives dudes don't really stay beyond 8 AM, even in GS. I was interned with CEE Equities desk at UBS in 1997, and these guys also leave 7ish-8ish.

Yeh, the lady said she starts work at 6:30am and usually finishes by 7 ish. Plus she doesn't work weekends.

Originally posted by Verres
Good news Drogue

Is it a paid internship?

Thanks I think so. Their summer ones pay ~£550 per week, which is pretty fantastic for an internship. But either way, the experience is worth far more than that.

Originally posted by Whaleboy
Bit of overkill for the chocolate shop though?

Nothing's overkill for a chocolate shop

Originally posted by DanS
I don't know. Mind you, the $150k isn't for those right out of undergrad. You've got to put in a couple of years as a galley slave first.

Nope, GS starting salary is £40k plus a £40k average bonus. That's about $150k.

[pchang]

We usually don't count bonus figures in our base salary in the US. After all, bonuses have no guarantee.

[C0ckney]

nice one drogue

a chat with lord butler, bloody hell, you don't get that at swansea

[Drogue]

In that case bankers here get paid peanuts - bonuses are often 90%+ of your salary. And they have some form of guarentee, a women successfully sued Merrill Lynch (I think) because she took 9 months maternity leave and was not paid her full bonus. Many top IBs only get £100k a year, but have bonuses nearing the million mark.

[pchang]

This is the way it is in the US, but I have never heard anyone successfully suing over the lack of a bonus (especially if they weren't working).

[Drogue]

It's weird sexual discrimination law. The bonus was deemed a part of her salary, and the removal of that due to Maternity leave is illegal. Not something I agree with, but it seems to be what the courts go for.

[Saras]

Originally posted by Drogue

So pretty hopeful of getting to the 3rd stage (assessment centre), though I know it's tough.

Would you work in Fleet Street or do they have some other offices? that one's a nice ofice (judging from meeting rooms & the reception, I bet the galley slaves work on shabby wooden furniture from 1970' ), used to be HQ of a newspaper (can't recall which).

[Drogue]

Yep, I think so. Not sure of any other London offices they have

[laurentius]

Congrats

Hope everything will go alright in the next stage too.

[Provost Harrison]

Originally posted by Drogue True, which is why I put 60+. From what I've gathered, 60 hours is a normal week, when nothing "exceptional" happens. Most weeks aren't normal.

But hey, it's an internship, and I've never know anyone to work past 8pm on an internship here. We're expected to work hard, but we have socials organised that mean we can't work that late.

Talk about the company effectively having your arse. It's that city lifestyle that never, ever appealed to me, plus the concept of investment banking and it's bastard offspring is not an option I would consider morally either, I consider it to be one of the worst form of parasitisms in modern society.

60 hours is one hell of a week Will. You're young, and although this would see you financially OK, you'll soon find your youth has slipped between your fingers in your corporate slavery. Be warned...

Yeh, it's only 2 weeks. Enough to see if I like it, not too much to burn out. Besides, I work 70+ hours a week at uni anyway, so I doubt it will be much change. Except possible I don't have free time at 2pm and I don't get to work at 2am

And do tell, what the hell are you doing all that time? It is a relatively quiet year, you should have loads of time...

Paid less? Do you guys measure it in millions or something? IIRC, a million dollars is a pretty normal salary+bonus over here, though it starts at nearer $150k.

Part of me wants to do it for 5 years just to get enough capital to start my chocolate business, but not sure it's even worth that.

It is rather sickening that people who, in my eyes, contribute very little to the wellbeing of society, cream off so much and leach so much talent out of society. Fortunately I am not motivated by greed in that respect (don't get me wrong, I am moderately ambitious, but never like that)

[Spiffor]

Will, will you have time to study, or will it be a full time internship?