The world's largest investment banks have hiked junior banker pay to six figures over the course of the past month in response to a burnout crisis that has seen up to 70% of analysts and associates leave some institutions and raised questions about the sector's hard-charging culture.

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.