Lehman Brothers paid summer intern $55,000 USD biweekly

[4lbs]

Wikileaks.org uncovered a document where the now failed Lehman Brothers, one of the the bankrupted financial institutions, paid a summer intern still in college, $55,000 USD biweekly.

http://wikileaks.org/wiki/Lehman_Brothers_summer_intern_got_USD_55%2C000_biweekly_2008

The offer sheet shown was sent August 2007 to the prospective employee for a position to be held June 2008 to August 2008.

[RandiFan1290]

1. I bet it was Clarence Beeks! n/t

[VWolf]

7. I thought he was in Africa,

part of some scientific experiment. Hey what do I know - look, they're in love.

[ProdigalJunkMail]

16. one gorilla ... two gorillas...

the story of my life :-)

sP

[HughBeaumont]

19. "Hey. Back off! I'll rip out your eyes and piss on your brain."

[ColbertWatcher]

2. What kind of responsibilities could they have given an intern that justifies 55k? n/t

[HiFructosePronSyrup]

4. oral sex

[ColbertWatcher]

11. I sit corrected. n/t

[tabasco]

3. Republican senator's kid?

[Neshanic]

5. Offer letter says criminal background check. I thought that was on his resume as experience.

[Tandalayo_Scheisskopf]

6. Something tells me...

That this "intern" had no idea he or she was making that money and never saw a dime.

[4lbs]

8. He knew full well what he'd be getting.

Well the document is an offer sheet, just like a new employer gives you.

He signed the offer sheet, so he obviously knew about the $55,000 biweekly.

[Neshanic]

12. Of course he did, the little corrupt republican spawn knew. They train their own.

[Tandalayo_Scheisskopf]

13. Questions:

1. Does Benjamin Ruano even exist?

2. Did Mr. Ruano, assuming he does exist, receive that offer sheet?

3. 3. If he did receive that offer sheet, did he receive that money in full, less taxes?

C'mon, interns are legal slave labor. NO ONE pays them, much less $27,500/wk.

[SweetieD]

10. lol Something tells me your right.

[JDPriestly]

9. Can't open Wikileaks.

[Name removed]

14. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Godhumor]

15. He was NOT being paid 55,000 bi-weekly

He was being paid a bi-weekly salary based on a 55,000 annual salary. Say the annual salary of 55,000 is paid over 26 bi-weekly periods then each 2-week paycheck would be $2,115.

The intern made $2,115 for every 2 weeks he worked and, over the course of 10-weeks, he made $10,575

As someone who has signed this kind of offer letter before for my own MBA internship, I know that is what the wording of the contract means.

[bicentennial_baby]

17. Same thing Goldman pays its summer interns

I know this b/c my close friend was one until this month.

[Dora]

18. Yes, thank you for catching this and clarifying it.

It's still amazingly good pay for summer employment, but it's not fantastical.

[Godhumor]

22. Stupid math mistake, I gave him too much money

He earned a bit under $11,000. Still not bad for summer work.

[deadparrot]

20. Ha. I've yet to be paid for an internship.

Though not-for-profit work is considerably easier on the conscience.

[libertypirate]

21. My provider Comcast plays we don't know any wikileaks

I sure love living in a free country of denial!