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attends The University of Texas at Austin - Red McCombs School of Business
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Who on earth is giving sign on bonuses to interns? That is neither normal, nor should it be expected. You have a massive reality check coming.
Let us know how it goes lol
@OP - you’re correct in that we pay MBA interns at that high rate. You won’t be able to negotiate it and may show poorly by trying to. Here’s a few things to keep in mind:
- MBA interns have very little consulting skills; we’re paying for your potential. I would take a 2nd year analyst over an MBA intern on a project any day
- most MBA hires who don’t excel within 1-3 years are counseled out and they struggle to replicate the high salary elsewhere
- your objective should be to choose a firm where you think you’ll have highest probability of success as the odds of being counseled out within 1-3 years are high
Good luck
Maybe OP was in consulting prior to going to Bschool otherwise I don’t see why interns should get paid that much
Chief
Lol $25/hr below? What do you consider to be the market rate for an intern? And what do you think should be the sign-on bonus for a 10 week contract?
This post seems a bit out of touch. If you consider $75 to be market value than that converts to $144,000 in anual salary. Unless you’re going to work for the top 1% of IB that is a ridiculous expectation. Even in IB that’s crazy for an internship. Go on Big 4 Transparency and get some perspective.
I’d jump up and click my heels in the air if my next internship offered me 25/hr
I realize that’s not what OP said, but I stand by my comment
Suggestions? Wake up, cuz you're dreaming fam 🤣
You're not going to be able to command that pay with UT Austin as the MBA. That name just does not really carry any weight nor prestige unfortunately.
May I direct you to big 4 Transparency. You’re expecting for the equivalent of $150k for an intern.
And for reference you’re complaining about an annualized salary of 96k. Which is well above all of these
Wow, haha! This isn't just entitlement. This is greed.
First, you're an intern.
Second, you're interning with a real estate firm.
But you want the pay of a consultant out of grad school. A whooping $75+ or $156k annually - as an intern?
Most professionals don't even make that. MBB and big 4 seasoned consultants don't make that much hourly either because they work almost double the weekly number of hours as the next person, so it converts to less hourly pay. So, no you don't deserve that amount.
Most professionals get there 5 - 10 years into their career.
Kindly reject the offer so the next qualifying and likely more deserving candidate can pick it up.
This is ridiculous.
Are you an MBA student?
I make a whopping $17.50 with my shiny new raise.
Entitled much?
Did an internship with PwC UK in London, tried to negotiate, they laughed at me. My pay was £11/hr or £21k per year. I then went on LinkedIn and saw this advert for KKR internship in New-York. What is up with these American internships paying so much…
What city? $25/hour is not livable is most areas
OP wants $25 per hour (extra) on top of what they are offering. If the offer was $50/hr, OP is asking for $75/hr.
Only Engineers make big $ as interns and sign all kinds of non-competes and intellectual property non-disclosure agreements that hampers their ability to create start-ups. Sorry, MBAs are not that hard to get. Why do you want to go into Commercial Real Estate? There's a glut in most markets, it could be a rocky ride.