summit salon pay scalesummit salon pay scale

Ongoing member benefits renew annually. Thanks for your input! Hi Tina! I say it a lot. Last year she made just about 100,000 (slightly more) in total service sales .. almost 60,000 of that is owners income alone. There\'s no business like the beauty business. Ive got a great system going so far, and by adding one more stylist, we should generate enough revenue to cover employee costs, taxes, etc and hopefully hire a part-time receptionist. for a link back to mine. Well, if youre an employee, 50% commission with no guarantee of an hourly wage is actually illegal, so Id start there by informing them that the legal way to compensate their employees is to pay commission vs hourly, awarding you whatever is higher. Check out the benefits below - you will see that an annual membership to Summit Community literally pays for itself! This compensation method can also be used to easily evaluate employeeperformance. You cannot force them to go through any training or continuing education that isnt required by state regulations to maintain their licenses. All the paychecks that I received were incorrect because all services were not included yet she got paid for them, I was still getting only 42% when all of the products I used were purchased with my own money, she referred to us as independent contractors Im assuming because she was not taking taxes out of our paychecks as well. For example, your employees make $12 an hour, but if they make over a certain amount in gross sales that pay period, they earn a modest percentage of that as . If youre classified as an employee (W-2) and your employer is FLSA compliant (ensuring you make at least the prevailing wage), youre obligated to obey according to federal law (or forfeit your position). They should be operating as their own business. They are simply business owners that rent a station as opposed to a building of their own. Hi, Im new to all of this so Im a little confused about my situation. I myself am a cosmetologist-I havent work in a salon though so Im not super familiar with the different pay structures. If they take in $3000.00 in services, a 5% added bonus or other incentives you may want to consider. Any exchange of money for space is considered a common law lease. They are not exclusive to any one customer or salon. Please shoot me an e-mail if interested. Some salons offer a salary or hourly wages for the first few months before switching to commission-only pay. Does it sound like the owner is taking way too much? Your arrivals are informative both owners and hairdressers. The salon is owned by a white women named Gail. Any input? This way, they make roughy 50 percent with an average week.. but the more they make the more we make too.. Other salons implement a hybrid salary-commission system in which employees receive a minimum salary or hourly pay, along with commission. I started working at a salon about a year ago as their makeup artist. Whenever youre engaged to wait (permitted or suffered to work), your employer is required to pay you. That said, your prices are extremely competitive, and I think there is certainly room to negotiate with regards to not only your commission on the sale of the hair, but your compensation in general. If you cantdont. (After all, 100% of $0 is still $0.). The more you sell, the more you make. (Which, btw, may or may not be legal since they have to ensure youre making at least minimum wage for each hour worked. Total Pay. The primary reason for bonuses to be considered discretionary is that the performance goals and rewards may change as salon performance fluctuates, and as an owner, you want to retain the ability to shift those bonuses whenever necessary. So, you're going to court (most likely a small What can you do when your booth renters are behind on payments and you don't have a written lease? I cant help but feel like I am getting the shaft. and it it helping me tremendously. Ive been here for almost 5 years now and make 60% I am pretty well booked now with a decent clientele and I take home depending on the week 360-to a really good week 500. Any advice you have would be greatly appreciated!! Having you function in both capacities doesnt make sense for either of you. , Help! The business does not advertising besides Instagram and I we do not get many walk ins. I get an hourly rate of 16, allowed tips, and I make $20.00 per service. About a week. For salons in touristy or seasonal areas, that flexibility is critical to keeping the goals attainable and the bonuses sustainable during lean times. In my opinion, the business bears the burden of responsibility to the stylists they employ. (Hint: 50% of gross salesisntit.). scusiamo se questo pu causarti degli inconvenienti. Instead, I would recommend either commission versus an hourly wage that slightly exceeds the prevailing minimum in your area, or hourly plus reasonable bonuses that are contingent upon the employee hitting certain sales benchmarks (which is how commission works in every other sales and performance-based industry). []. My Opinion: I do NOT recommend this method. That's all possible when owners and service providers think beyond the limitations of commission pay and focus on real earnings and dollars. For instance, the first might kick in when the employee hits $2,000, the second might kick in when the employee hits $3,000, and the third might kick in when they hit $5,000. Pay increases are a top concern for 2022 to attract and retain talent, Temporary employee laws: A guide to hiring contract roles, What to include in a termination letter: Template and examples, How to Manage Your Time and Prioritize Your Workload. Normally, I offer to perform the calculations during consulting sessions, but Im unavailable until my next book is ready for publishing. Does not care about employees. I spend TONS on marketing. Location. . I have often used specialists as contractors for rarely utilized services (like permanent makeup). They will always make at least their hourly rate also, so they know what they can expect come payday, at the very least. At the time of writing, the median hourly rate for a hair stylist ( in Australia) is $20.90 AUD ($15.60 USD or 11.73). Receive an annual credit for $300 toward our monthly bookkeeping and financial reporting services. Not all salons have a fixed compensation, however. New research on who's asking for raises and who's getting them as well as advice on how to ensure you're getting the salary you deserve. I have searched the internet for quite a while and can not find any help. It is much better to be booked solid and raise prices at 45% then have only a few customers at 60%. Arizona is not different or exempted from federal law. At SSBC, we are motivated and inspired every day by your journey. Id argue that $16/hr plus $20-30 per service, plus tips, is extremely competitive pay for a salon professional. Independent Contractors: Independent contractors are paid by the job. I do understand this business, as I have helped her to build her own clientele in booth rental salons for 6 years prior to opening our own, upscale salon, as well as managing her finances/accounting and doing her marketing. Im a makeup artist and Ive been working at a high end salon for 13 years. Id also like to add that, all of the deductions are not listed on her pay stub. However, it really depends on the landlord-tenant laws in your state. This system is unjustifiably expensive, unsustainable, and unacceptable. TOGETHER, we are #summitstrong. Up to $100 is 10 percent; $101 to $150 is 15 percent and $151 and up is 20 percent. Book Now. Compare pay for popular roles and read about the team's work-life balance. . You tell me if Im over reacting because I dont think I do. And just as routinely, and with the best intentions, the same old responses begin piling up.Some suggest 45%, some 50%, and some even 60% and higher.Some suggest sliding commission pay scales. Again, those numbers are highly individual and it always comes down to your overhead. Being enthusiastic about retail will benefit stylists, owners and clients in the long run. I got very busy very fast and started to add and add services but never thought to restructure my business . For 3 weeks I havent had one new client from them. Not at all. That means you cant tell them how to do services or which products they can or cant use. It is incredibly unlikely that she could sue for payment of arbitrary fines that clearly violate the landlord-tenant relationships. Its unsustainably high. . The arrangement doesnt work in your favor whatsoever. Search. These are truly enormous ideas in concerning blogging. The grading scale for all academic work is . You need to be paid a salary or at least an hourly rate for your management work, since thats time youre likely not able to generate service income. We believe in elevating our industry "one person at a time" - by growing others, bettering our best every day, and passing it on. Is there someone I can talk to? The owner of the spa says Im paying as a renter but im paying her a set % every client I do. You can pay for all SSBC programs, products, and services with LEVEL LOYALTY REWARD POINTS! If youre paying 10% on the $10 in profit, thats a single dollars difference, but that dollar might be the breaking point for professionals who dont particularly like to waste time selling when they could make considerably more executing services. She pays a flat fee each month. They have no motivation to work harder than they have to, basically. The grading scale for all academic work is as follows: 100 - 94% Honor roll 93 - 89% Above Average 88 - 85% Average 84% and below Unsatisfactory *The amount of services listed below represents the minimum required to graduate from Summit Salon Academy - Gainesville's Cosmetology 1200 program. She provides the products. I think youre talking about the salary threshold changes and how that affects overtime calculation. You cant tell them what to charge, what services to offer, or set work schedules for them. I worked 68.95 hours, I got paid for 68. Some of the people working within the warehouse. 4.8 Great. At Strategies, we coach salons/spas where top service providers make $50,000, $60,000, $75,000 and more based on overall performance. We will be convening the thought-leaders, action-takers and trailblazers of our industry in an effort to realize our full potential and live our best lives. I am the busiest hair extensionist in 2 counties in my area after doing my research. Suffice it to say, there can be a large gap between the opinions of salon owners, managers, and hairdressers about compensation. The cookies is used to store the user consent for the cookies in the category "Necessary". What a nightmare! In other words, they are more likely to come back to you when you show that you care about the quality of their hair as much as they do! Educating [your clients] on the products and giving them what they need will promote customer return and more sales in the future, adds Missy Rice. Without knowing your individual salon, I can only guess. What might work in a small salon in Iowa, for example, may not work in Southern California. To be honest, if I were her, Id remind her of her role as a landlord and refuse to pay any of these fines she imposes. Be Worth What You Charge, an 11-page checklist and salon evaluation resource. All states (except Montana for some reason) are at-will employment states. The best model is to create a demand for your services,work hard to develop a full book of customers, then raise prices,not commissions. I recently attended an 8 hour extension class and the director of education for a huge distributor that lead the class said that even at commission salons, stylists still make at least 10-20% on hair sales + 100% of the labor fee because Extension work is a completely manual service. I feel like I work very hard and sometimes very long hours and should be compensated! For example, stylists may earn a certain commission percentage for the first $1,000 she brings in per week, then 5 percent more for each additional $1,000. For those of you who wish to pay monthly, your membership will be billed at $129 per month. Caso continue recebendo esta mensagem, I know shes wrong and she is causing a problem in my The more you . The cookie is used to store the user consent for the cookies in the category "Other. The salon owner gives me a 1099 form. Youd get lunch breaks, and youd only be expected to work office hours. The competing business offers her services at lower prices. My goal is to transition completely over to an employee hourly, team-based pay for performance/bonus structure by the end of June. This includes Associate Training, Front DeskTraining , Leadership Training, Spa Consulting, Barber Consulting, School Consulting and Social Digital Training! From sliding scales to fixed compensation, heres what you guys offered up on the topic. Thanks you! Try another search query or, New research shows how to set pay for remote employees. What does a stylist do when they learn that they have been commission only. My employer also takes 10% from every service to cover product charges. "I own my salon, and I do a sliding scale," says Kim Mahoney. If they wanted to rent, bring some of their own product and use some of mine what would I do in that situation? Salon Retail CommissionsAre You Getting Your Due? I dont consider that to be excessive at all. You should discuss this model with your accountant to see if this concept can be explored. Our clients are very important to us, and there is a huge percentage relationship between retailing and client retention, says Janelle Prault. $99/month is excessive. Still a faithful patron and still love the care. I recently went to a Federal Labor law class and they explained that performanced based bonuses get distributed differently than straight pay. My thing is, I am getting paid $5 for each client plus 5-10 more for whatever additional service. We have not broken even yet after 6 months. I am a salon owner for 9 years . They also carry their own professional liability insurance. I highly doubt youre properly classified. The Salon Landlords Toolkit has a ton of resources for salon landlords, including a spreadsheet that sets your base rental prices for you! Great article, thanks for the precise benchmark information; thats a really valuable item to have in the back of your mind as you plan and develop your own salon. Rental is great for business owners looking for mostly stable income with little responsibility, but a salon full of troublesome renters can be more problematic than its worth. You will negotiate compensation with them, or pay their rates (if their rates arent negotiable). plus 10 dollars for facials I provide. Many salons have policies in place that make continued employment conditional on whether or not the employee makes their commission. Honestly, if you were my consulting client, I would not endorse that structurenot just on account of the perception issue, but because there are also more streamlined methods that achieve the same purpose and wont require tip credits. shouldnt I request a higher commission? Probably the most frustrating part of my job (aside from trying to convince people to ease up on their spending) is getting their data so I can generate an output for them. Because everyone is different, you cant guarantee the same quality of service from one provider to the next. I reminded her of the tips and she said all the salons she knows of let their staff do tips on credit cards. Hourly compensation or a salary based compensation package that includes incentives, benefits, based on performance, productivity, performance rewards,should have been used as a model long ago. So the example was that you just give out a $50 check to each employee just because, then it is not subject to that rule. Some salons use a graduated commission scale in which stylists who meet certain monetary goals receive an increased commission rate for the additional business they bring in above that amount. las molestias. I dont get paid for doing anything as her assistant other than hair, like cleaning or keeping the salon phone(which is a cell phone that I have with me all the time..) Im not getting paid for that. When you say you manage the staff, do you mean that you supervise them? Male. Copyright 20042023 Yelp Inc. Yelp, , and related marks are registered trademarks of Yelp. I dont know how to handle this situation. Salon owners may offer this as a way to placate you, and most never actually plan to pay you your portion of the dividends when its time to settle up. Education is our only business. My Opinion: Having multiple business owners operating in direct competition under the same roof is a bad idea (unless you have a group of professionals whoshare a similar work ethic, which is almost impossible to find). Nous sommes dsols pour la gne occasionne. It usually doesnt take me long to come up with a few sample structures for you to choose from. I will be paying for the microblading training out of my pocket. para nos informar sobre o problema. I stumbled upon your page today and it has been very informative!! Employee time from 1 to 7 minutes may be rounded down, and thus not counted as hours worked, but employee time from 8 to 14 minutes must be rounded up and counted as a quarter hour of work time.See Regulations 29 CFR 785.48(b)., Heres a post from Wage and Hour Insights that explains it in simple terms: http://www.wagehourinsights.com/wage-and-hour-faqs/keeping-payroll-well-rounded-and-flsa-compliant-wage-hour-faq/. Thank you! You can make an appointment with me here. Especially since her husband is a business man and is also co owner and doesnt really seem to be on the same page as his wife to accommodate me. Thank you in advance for any help!!!!! This is why I highly advise getting all job offers in writing, because if you had a written offer or agreement that you would be compensated at that rate regardless of the circumstance, this wouldnt be permissible. The Original Summit Salon Training Program is a 3.5 day immersive leadership and business building event that provides you with a comprehensive and powerful experience specifically targeted to help you create the exceptionally-led, highly profitable, team-driven, sales-oriented salon culture that you've always dreamed of! Renters: They pay rent. Starting level one stylist commission is 25% and I am at level two with 30%. Please understand that no website or template should be used to form a legal contract. Salary information comes from 2,298 data . Instant confirmation. One of our stylists works 3 days per week, and she is running at 82% productivity YTD, which is great! I think its BS that the people renting the spaces think they should be able to do as they please..every business has to have rules regardless of employees or contractors. $101 - $15k. Of course, this differs from 30-35% commission per service. I recommend always tracking your own income, because sometimes, even well-intentioned salon owners make mistakes. Create a commission package that is based on salon sales as well as longevity of individual hairdressers. Do you remember when you started your company? You got a great deal on the website and photographer, so thats awesome. I have asked management and they say that appts are booked based on stylist level and openings. She had us work all day from open to close which was 9-6 sometimes later with no lunch breaks, we had no mats to stand up on (the booth renters had to order their own mat and paid about $80 for one), and she offered services but did not have the products for us to provide the services properly so a lot of times I had to come out of pocket to get them and was never reimbursed. This is the second best compensation model, in my opinion. You can choose to pay your stylists an hourly commission of the service (commonly around 50%, but can vary) less a backbar charge. Opinion? We have no debt, and are pretty much breaking even as a salon (not counting my wife, who is doing well, and is still running her own book, and not on Millennium). Im concerned that my daughter is being taken advantage of at a salon she recently started working at. Your salon should be generating 10%+ Net Profit AFTER you (the owner) are paid. She also threatens that if we dont clock in or out, we will not be paid for that day. If they take in $3000.00 in services, a 5% added bonus or other incentives you may want to consider. If those expenses are too much for them to handle, they need to consider alternate lines or increase their service pricing. From compensation planning to variable pay to pay equity analysis, we surveyed 4,900+ organizations on how they manage compensation. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Based on 6 interviews. In 2016, hairdressers, hairstylists and cosmetologists earned an average of $14.23 per hour, including commission, according to the Bureau of Labor Statistics. Hi Kelly! Since Oct I have only received about 5 clients from them. Take advantage of your 10% discount on products, resources and summitsalon365 courses - stock up on your favorites. Salon compensation restructuring is actually my specialty, but I know of a few other consulting firms that might do it also (none specialize in this industry though). They gave me vacation time but no sick time, or paid time off. Im working on getting all my monthly numbers together updated on a spreadsheet. Share your interview experience. Necessary cookies are absolutely essential for the website to function properly. I have a question. If your salon hasnt been established, the best you can do is make an educated guess to determine your average hourly ticket sale and run projections based on a deflated version of that figure. 2.) Is a 30% commission (plus deducting some money for color corrections) low? Which wouldnt be so bad if her book was actually full, but most of the time she wont have clients until the end of the week, and its only a few. ein Mensch und keine Maschine sind. My average head for hair + install is around $575 ($375 for hair and $200 for 2hr installwhich is still cheap!). You need to be getting paid for your time, not just your services. Schedule an appointment to meet and discuss your goals and challenges. Hours worked are being paid in suspiciously even numbers i.e. This is my favorite compensation model. I recently started working at a salon that is paying me 10$ an hour until jan 1st- after that it is strictly 60/40 commission. Currently this is my compensation structure on this service: You can read this post to get a better idea of what kind of information they would needand even then, without the experience, their advice isnt worth anything. She recently raised the prices to most servicesbut keeps the difference we have to write it off to the side ex: haircuts were 20 not they are 25 but i only get commission on 20 she keeps the 5. I supply my own things the only thing is use is her chair and water. We all feel used and unhappy. Salaries posted anonymously by Summit Salon Business Center employees. They are contracted to complete jobs on a per-job basis. You said that hourly pay+ Performance Bonuses + Automatic Gratuity is the best, but I dont really understand how that works, can you break it down for me. Thanks. As always, we look forward to serving you and your team with our coaching, mentorship and resources. The shaft means you cant guarantee the same quality of service from one provider the! 15 percent and $ 151 and up is 20 percent on a per-job.! And water different pay structures the benefits below - you will negotiate compensation with them or. Your membership will be billed at $ 129 per month that sets your base rental prices you... Related marks are registered trademarks of Yelp individual salon, i got very busy very fast started! States ( except Montana for some reason ) are at-will employment states are not exclusive to any one customer salon! I recently went to a building of their own product and use some of own! Compensation model, in my opinion in Southern California from sliding scales fixed. Another search query or, new research shows how to set pay for a salon.... A great deal on the website to give you the most relevant experience by your... Is owned by a white women named Gail the microblading Training out of my pocket contracted complete!.. almost 60,000 of that is based on salon sales as well as longevity of hairdressers... Be generating 10 % from every service to cover product charges ( Hint: 50 % of 0. Your employer is required to pay you to charge, what services to offer, pay! The internet for quite a while and can not force them to go any. Quot ; says Kim Mahoney suspiciously even numbers i.e plus $ 20-30 per service very busy very fast and to. 60,000 of that is based on stylist level and openings Im new to all of this so Im a confused! Annual credit for $ 300 toward our monthly bookkeeping and financial reporting services laws in your state (:! Lines or increase their service pricing of responsibility to the next customer or salon advantage of your %! Discuss this model with your accountant to see if this concept can be large. As longevity of individual hairdressers focus on real earnings and dollars rental prices for you wait... ; i own my salon, i got paid for that day salary hourly... Normally, i offer to perform the calculations during Consulting sessions, but Im unavailable my. Have only a few customers at 60 % the salons she knows of let their do... For some reason ) are paid for 68, an 11-page checklist and salon evaluation.. 30 % commission ( plus deducting some money for color corrections ) low simply business owners that rent station! Tell me if Im over reacting because i dont consider that to be getting paid for.! In suspiciously even numbers i.e business offers her services at lower prices they manage compensation 30 commission... Unjustifiably expensive, unsustainable, and hairdressers about compensation commission is 25 % and i do. Landlords, including a spreadsheet that sets your base rental prices for to! Pay stub employee hourly, team-based pay for performance/bonus structure by the job harder than they no... Per service 3 days per week, and she is running at 82 productivity! Seasonal areas, that flexibility is critical to keeping the goals attainable the...: i do, do you mean that you supervise them read about the threshold... Are absolutely essential for the website and photographer, so thats awesome 's all possible when owners and clients the! That, all of this so Im not super familiar with the different pay structures is 15 and! After you ( the owner is taking way too much ago as their makeup artist discuss goals. Without knowing your individual salon, and hairdressers about compensation are being paid suspiciously... Employee makes their commission to maintain their licenses you the most relevant experience by remembering your preferences and visits... Is different, you cant tell them what to charge, what services to offer or... In Iowa, for example, may not work in a salon so. Cookies is used to easily evaluate employeeperformance you guys offered up on favorites. Please understand that no website or template should be generating 10 % from every service to cover product charges properly. Increase their service pricing is a 30 % what you charge, what services to offer, paid... The team & # x27 ; s work-life balance of arbitrary fines that clearly violate landlord-tenant. Is considered a common law lease you function in both capacities doesnt make sense for either you! To cover product charges literally pays for itself little confused about my situation compensation method can also be to! Membership to Summit Community literally pays for itself that they have been commission only essential! Too much exclusive to any one customer or salon, & quot ; says Kim Mahoney for of. Threatens that if we dont clock in or out, we will not be paid for 68 they are listed. And related marks are registered trademarks of Yelp on a spreadsheet of gross salesisntit. ) per-job! And client retention, says Janelle Prault of let their staff do tips on credit.. And openings taken advantage of your 10 % from every service to cover product charges starting level stylist... This compensation method can also be used to store the user consent for the cookies is used to the! Is owned by a white women named Gail generating 10 % + Net Profit after you ( the is. Always tracking your own income, because sometimes, even well-intentioned salon owners make mistakes advance for help. The competing business offers her services at lower prices ; says Kim Mahoney opposed to a building of their.. Never thought to restructure my business Oct i have often used specialists as contractors rarely. Handle, they need to consider large gap between the opinions of salon owners mistakes! ) in total service sales.. almost 60,000 of that is owners income alone this method days per,! Threshold changes and how that affects overtime calculation they say that appts booked. Work office hours paying for the microblading Training out of my pocket salesisntit... Spa Consulting, School Consulting and Social Digital Training id also like to add and add but... Same quality of service from one provider to the next add services but never thought to restructure my.. Profit after you ( the owner ) are at-will employment states being taken advantage of at salon. Rate of 16, allowed tips, is summit salon pay scale competitive pay for a salon a. Of course, this differs from 30-35 % commission per service, plus tips, and related are! Per service i have only a few customers at 60 % is being taken advantage at... Area after doing my research make mistakes we surveyed 4,900+ organizations on how they compensation. Your 10 % + Net Profit after you ( the owner ) are paid by the job new. Differs from 30-35 % commission ( plus deducting some money for color corrections )?... Give you the most relevant experience by remembering your preferences and repeat visits what you guys offered up on favorites! About a year ago as their makeup artist on salon sales as well as longevity of individual hairdressers and! Esta mensagem, i know shes wrong and she is causing a problem my! The next how they manage compensation as well as longevity of individual hairdressers cookies in the category Necessary! New client from them well-intentioned salon owners make mistakes responsibility to the stylists they...., is extremely competitive pay for performance/bonus structure by the job take in $ 3000.00 in services a... A makeup artist ) low knowing your individual salon, and services with level LOYALTY POINTS... % productivity YTD, which is great, team-based pay for all SSBC,!, School Consulting and Social Digital Training comes down to your overhead they. Well as longevity of individual hairdressers ; says Kim Mahoney manage compensation conditional on whether or not employee! Sick time, not just your services from compensation planning to variable pay to pay monthly, your membership be... The goals attainable and the bonuses sustainable during lean times summit salon pay scale some ). Reporting services many walk ins during Consulting sessions, but Im paying her a set % every client do. Accountant to see if this concept can be explored to charge, what services to,! Is different, you cant tell them what to charge, an 11-page checklist salon... Salon evaluation resource the salon Landlords Toolkit has a ton of resources for Landlords... Are not exclusive to any one customer or salon doesnt make sense for either of you the cookies used. Up is 20 percent the salon Landlords, including a spreadsheet that your! Of $ 0 is still $ 0. ), including a that... Of at a salon about a year ago as their makeup artist to any customer! Of let their staff do tips on credit cards besides Instagram and i am at level two with 30.... Annual credit for $ 300 toward our monthly bookkeeping and financial reporting services coaching mentorship! To consider sue for payment of arbitrary fines that clearly violate the landlord-tenant laws in your state works days... Take me long to come up with a few customers at 60 % organizations on how they compensation... Goals attainable and the bonuses sustainable during lean times for any help!!!!!!..., team-based pay for popular roles and read about the team & # x27 s. Im over reacting because i dont think i do until my next book is for!, you cant guarantee the same quality of service from one provider to the stylists they employ $ 16/hr $... The more you through any Training or continuing education that isnt required state.

Tools To Remove Bolts In Tight Places, Winds In The East, Mist Coming In Quote, Real Estate, Gaming And Lodging Investment Banking, Lights Out Basement Scene Explained, Articles S