While Wall Street firms may be laying off employees, they’re competing hard for summer interns. Citadel and Citadel Securities have raised compensation to $19,200 a month, before taxes, from $14,000 last year — and they’ve seen a 65% increase in applications for intern positions. The reason for the industry’s largesse is twofold: to offset unfashionable return-to-office policies at many of the firms and to divert candidates away from tech, where the number of layoffs has exceeded those on Wall Street by the tens of thousands, Bloomberg notes.
Other Wall Street offers for interns:
Barclays is paying an annualized rate of $110,000.
Citigroup pays $50 an hour.
Bank of America offers a median hourly rate of $41, with a bump to $46 if interns are willing to work in the Big Apple.
Many banks also offer perks on par with those received by employees, including sign-on bonuses, living stipends and access to corporate housing.Top 10 INVESTMENT BANKING INTERNSHIP/CAREERS WEBSITE TO APPLY:
- Rothschild & Co.: https://lnkd.in/gvP4YjCy
- Eastdil Secured: https://lnkd.in/g7zVhj7q
- US Capital Partners: https://lnkd.in/gB8QQGtM
- The McLean Group: mcleanllc.com/jobs/
- Solebury Capital: www.solecap.com/careers/
- Merrimack Group: https://lnkd.in/gXT6h5vW
- Joseph Gunnar & Co.: https://lnkd.in/gH-5xtJN
- Allied Millennial Partners: www.ourallied.com/careers
- Xnergy Financial: www.xnergy.com/careers
- Fairmount Partners: https://lnkd.in/gGxZWBsQ
