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Investment Banking

Why $100,000 a year still isn’t enough for 21-year-old bankers — ‘Banks need to worry’

“Quality of life considerations are making a comeback, as the workload has increased drastically.”

Pay hikes have come with lifestyle changes that have inadvertently shone a light on banks' harsh working conditions
Pay hikes have come with lifestyle changes that have inadvertently shone a light on banks' harsh working conditions Photo: Getty Images

For 21-year-olds graduating from top universities, there’s a new reason to start out in investment banking — six-figure starting salaries.

Banking has always been among the top paying jobs for fresh graduates, but $15,000 salary hikes at JPMorgan, Citigroup and Barclays — to $100,000 — in the past month have set a new bar for an industry facing a retention crisis among young recruits.

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