For many, many reasons, we all know Wall Street's crazy. but maybe one of the things we should particularly focus on right now with all the craziness within Wall Street is the absurdity of Wall Street Pay when I'm about to share with you will most likely leave your jaw on the ground because you're gonna find out what interns at some of the top. Wall Street Firms such as Citadel end up getting paid per hour. I'm gonna give you a warning now.

you should probably only watch this if you want to be frustrated. Foreign Wall Street's intern pay is surging with Citadel at 120 dollars an hour, wages have increased for summer jobs and finance as the industry tries to get young talent in the door. You heard that right? 120 dollars an hour? That's real 2 000 hours. We're talking about 240k when I Believe Right now, the average family is bringing in 60k.

that's an intern. We're not talking about people with the degree, We're talking about the people who are trying to learn but really get coffee and pick up dry cleaning 120 an hour and I Wish the insanity stopped there. But as you dive into this, you're going to start to see more and more Ridiculousness Interns at Wall Street Firms are getting bigger paychecks this year as the finance industry seeks to attract more young people disillusioned by layoffs and Tech for finance jobs across the U.S Median intern pay: Jump By 19 At 16 of the top firms, the bump was even higher. Hedge funds and prop trading firms were hourly pay surged 29 year over year to a hundred and eleven dollars or 4.4 000 before taxes for a 40 hour work week.

Four point, four thousand dollars a week before taxes at Citadel and Citadel Securities the median wage for interns jump roughly 25 to 120 an hour this year. for a standard month. With a 40 hour work week, that's 19.2 000 before taxes as in their taking home before taxes a month Almost 20. K Not shockingly, the bigger paychecks got the attention of Job.

Seekers Ken Griffin's firms received more than 69 000 applications for their 2023 internship program. a more than 65 percent increase year over year. I'm wondering, do you think that this is happening just because of I don't know. like almost the popularity now of Citadel and I'm not saying popularity in a positive sense.

I'm more saying name reckon Nation because obviously Citadel is like become a household name ever since the explosion of retail trading and Retail finding out what happens with payment per order flow and just Wall Street in general I mean that's a huge huge increase as students have become more informed about career choices in general and the unique opportunities are internships provide for learning growth impact. They have determined that Citadel and Citadel Securities are the best place to start a career at the intersection of tech and finance. So it's kind of interesting because like none of this is a moral argument technologically, they're obviously Advanced. From a money standpoint, they make a lot of it.

But I Think there is room for discussion of what about the moral implications? Just my own thoughts. But let's continue because it's not just Citadel. In turn, pay can vary by role, education, and the type of firm and other factors. At Barclays Summer Investment Banking Interns in the US are offered an annualized rate of 110 000, while the pay at Citigroup is 50 an hour.

So both of them coming in at roughly half of Citadel Bank of America offers a median hourly rate of interns nationwide at 41 dollars per hour, while those willing to move to the Big Apple for the summer earn a premium at 46. I Don't think that extra five bucks is making up for the extra cost in New York City. And there's a higher pay for investment banking interns. They can be paid at an annualized rate of a hundred and ten thousand.

Once again, so roughly half of what they're getting paid at Citadel Many Finance interns get their benefits including sign on bonuses, living stipends, and access to corporate housing with offers today now looking similar to full-time employees. that's for interns. We're not talking about a managing director coming in with Decades of experience and crushing it in XYZ Interns are getting sign on bonuses, living stipends, and access to corporate housing. This is the current state of the world of Wall Street The insanity, the absurdity.

But really what it's showcasing at least in my opinion, it's really showing us how much money is there and then a fair question. and this is probably a multi-hour video that we should end up making is where is that money coming from? How are they possibly this profitable? Once again, that's going to be a huge huge discussion. I'd love to get your thoughts below, but I Just wanted to share what it's like getting paid by Citadel Truly truly crazy.