| Topic Name: |
BofA Sec salary??? |
| Message Name: |
Summer intern |
| Date Posted: |
01/20/2006 |
| In Reply To: |
I too worked at BofA this summer. I was in a great product group in the S&T division and know that compensation was generous. At BofA it depends entirely on product group. If you are in an established group like corporate equity derivatives or high yield trading, you will be extremely well compensated. If you are in a "developing" group, compensation will not be good because the revenues are not there. Its common sense. I am not sure as to how it works on other trading floors, but young, hard working traders at bofa who have talent and common sense are given their own book in all things from correlation products to standard corporate debt to treasuries. They are compensated by the same % of p and l that other, more senior traders are compensated by. At bofa they like to say that this is not the case at other banks, I have never worked at other banks so I do not know if that is true. Workinusa worked in ECM. Now think about BofA... could you have picked a worse division. BofA is certainly one of the weakest equity players on the street. I would imagine that the bonuses were low. If you are telling me that the bonuses in HC or Lev Fi or FSG are low, you are crazy. They couldnt keep those people around for a week if they didnt compensate them accordingly. Lev Fi at BofA offers too many exit opps. They cant even keep people in the hy research group because they leave after their first year for hedge funds. These are my two cents. I am not usually aggressive on these boards but workinusa is full of the biz. |
| Message: |
How was your experience over the summer? I am considering applying. How was the recruiting process?
You say the experience depends on the product group. Can you choose which product group you want or are assigned to one?
What is the GPA range BofA considers for the interns? How much contact did you have with upper management?
Thanks!
clegg
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