US banks shelling out more to land top grads
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Much of Mr Michael Lewis' graphic description of life for junior bankers in the early 1980s still rings true today. Fresh college grads "gave themselves over entirely" to firms, working so many nights and weekends that one friend learnt to nap on the office toilet, the author recalled in his book Liar's Poker. But one thing is changing fast: The pay.
A recent wave of raises meant to address complaints that rookie bankers, known as analysts, work too hard for too little means this year's newbies will get salaries of at least US$100,000 (S$133,900), before five-figure bonuses.
