How about a $19,000-per-month internship this summer?

ETJ

ETJ

How about a $19,000-per-month internship this summer? That's what the biggest hedge fund in the world is paying as Wall Street returns to the office
Chloe Berger - Fortune
Chad from Murray Hill works hard for the money, he works hard for the money, so you better treat him right. Or maybe just pay him right. That's certainly the case at Citadel and Citadel Securities, where summer interns are reportedly making about $120 an hour this year, a 25% jump from intern pay last year, Bloomberg's Paulina Cachero reported. That translates to $19,200 a month pre-tax for the typical 40-hour workweek and more than four times what the typical U.S. worker makes a month-$4,400. While these interns will only see that kind of paycheck for the summer months, it's equivalent to a $230,400 annual salary.
/jlne.ws/46v0HYs
 
Why Bloomberg is writing a 40 hours workweek? If they are putting in less than 100 then they are lazy, no coming back.

A friend’s kid got an offer from Citadel during the pandemic but he joined its competitor in NYC instead. Chicago winter is cold.
 
mervyn said:
Why Bloomberg is writing a 40 hours workweek? If they are putting in less than 100 then they are lazy, no coming back.

A friend’s kid got an offer from Citadel during the pandemic but he joined its competitor in NYC instead. Chicago winter is cold.
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Ken moved just about everyone to Miami last year. The cold they could tolerate, but the crime got to be too much.
 
Not as many folks went as expected. A good part of the MM stayed here, but had been expected to leave for Florida - perhaps they'll go later. Gossip in the Chicago community had a lot to do with school quality and when the end of term would hit. The question became how many other team members went. Commodities and converts pretty much are still here in Chicago. That, plus the fact that he hates our governor. He also doubled down in Asia and Australia over the last few years.
 
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ETJ said:
How about a $19,000-per-month internship this summer? That's what the biggest hedge fund in the world is paying as Wall Street returns to the office
Chloe Berger - Fortune
Chad from Murray Hill works hard for the money, he works hard for the money, so you better treat him right. Or maybe just pay him right. That's certainly the case at Citadel and Citadel Securities, where summer interns are reportedly making about $120 an hour this year, a 25% jump from intern pay last year, Bloomberg's Paulina Cachero reported. That translates to $19,200 a month pre-tax for the typical 40-hour workweek and more than four times what the typical U.S. worker makes a month-$4,400. While these interns will only see that kind of paycheck for the summer months, it's equivalent to a $230,400 annual salary.
/jlne.ws/46v0HYs
More...
At a first glance it looks very attractive. But noone who is serious obtaining a full job later in this company will only work 40 hours per week. Maybe 80 to 100 hours per week is probably here, so in the end "only" $50 per hour. Second, there are also lot of study fees in the USA so they pay 6-figure on their tuition. And the worst they do not learn meaningful things like how to trade or any important stuff related to trading when they study at the university. So in the end they need to pay back study fees from their first jobs. That is the (education) business in the US. If they are not good reading the market and at trading they will not survive any longer in that or any trading related job when they got it for fulltime. So the question is, if they really make it net after the tuition fees. Lot of people do not get those interns and jobs too because they are too rare to the numbers of students, but they, the students, all need to pay the tuition fees, so that is sad thing, when they sit on 6-figure debts, finished with their studies and just started to work. Trading with debts is too challenging for own psychology, you do not have a free mind, which causes many mistakes because of that too. Time would be better invested just trading without paying lot of tuition fees. What you can make from any jobs is also ridiculous to serious trading income. Fact. So in the end this intern and route/path is not really attractive.
 
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