I was taken aback by this question because I thought that asking about compensation in an interview was considered taboo. My response, although not articulated as well, was that I was a summer analyst primarily looking for experience in the investment banking industry. Although compensation would be nice, I understand (based on facts provided by my school's Career Center) that firms tended to spend an average of $100,000 on each summer analyst after considering all the expenses of recruiting, training, and actual pay. Therefore, if the firm were to pay me zip, then they would be indirectly paying me $100,000. Finally, the skills that I would be receiving would hopefully translate into far more compensation (at the interviewer's firm) in the future when compensation meant more to me and my future family.