Morgan Stanley Boosts Junior Banker Pay Again

The transcript discusses the intensifying competition for young talent on Wall Street, with Morgan Stanley increasing first-year banker salaries to $110,000 to match Goldman Sachs. Other banks like Bank of America and JP Morgan may follow suit due to the scarcity of talent and high demand for M&A services. In China, young graduates are being offered up to $300,000 in quant funds, with better work conditions, which could further impact Wall Street's talent pool.

What impact does the pandemic have on young graduates' job opportunities?

In what ways are working conditions in quant funds different from traditional banking roles?