Finance
Some Wall Street Interns Are Raking in $120 an Hour This Summer
Wages have increased for summer jobs in finance as the industry tries to get young talent in the door.
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Interns at Wall Street firms are getting bigger paychecks this year, as the finance industry seeks to attract more young people disillusioned by layoffs in tech.
For finance jobs across the US, median intern pay jumped 19% at 16 top firms studied by Levels.fyi, which analyzes compensation data submitted by users. The bump was even higher at hedge funds and prop-trading firms, where hourly pay surged 29% year-over-year to $111, or $4,400 before taxes for a 40-hour week, according to the company.