As interns at other jobs are overworked and underpaid, interns at Wall Street are enjoying a generous salary of up to US$16.000 (almost Rp 230 million).
Finance career site Wall Street Oasis reported that Wall Street employers bid up the junior bankers salaries because the traditional banking professions are head to head with tech companies to get the best talents. They mentioned that banks are increasing their intern salary around 37% increase compared to last year, according to Wall Street Oasis.
They said big compensation is needed to lure young talents from working for hype tech companies with flexible working hours, casual dress code, and playground-like offices.
Wall Street Oasis reported that today’s compensation growth for juniors has been the highest they saw since the founding of the site in 2006.