It's been a wild year for junior staff at the world's biggest banks. Workloads have soared, the pandemic lockdowns have been brutal, and in response to a surge in burnout that has reached crisis levels as up to 70% of analysts and associates leave, many banks are now throwing money at the problem.

Since JPMorgan unveiled plans to raise first-year analyst pay to $100,000 on 28 June, the vast majority of its bulge bracket rivals have followed suit, while smaller or independent players have raised pay even higher.