Some 1st year M&A analysts in the City of London are earning 12.60 an hour - or less
Admittedly, this is after tax, but it's worth reiterating that the money earned by some of the extremely keen young graduates who get jobs in investment banking isn't that great.
As we mentioned yesterday, the parameters for total 1st year M&A analyst compensation are anything from 65k-75k - all in.
After tax, an analyst on 65k would be left with 44k.
Optimistically assuming a 50 week working year and a mere 70 hour working week, this implies an average net hourly wage of 12.60.
Given that many analysts work more than a 70 hour week and that some are obliged to cancel their holidays, the final amount may end up being even less.
This being the case, it's worth noting that street-based fund raisers for Guide Dogs for the Blind are currently being recruited at a rate of 9 per hour, plus bonus.
