From a story on axios.com headlined “Some Wall Street interns get $120/hr.”:

Eye-popping pay is pushing ambitious college students back to Wall Street:

Applications for internships at Citadel and Citadel Securities — Ken Griffin’s firms — were up 69,000 over last year (+65%) after the median wage jumped to $120 an hour, Bloomberg reports.

Why it matters: Layoffs in the tech industry mean college grads seeking high-paying gigs view banking as a better bet than Silicon Valley.

By the numbers: Median intern pay on Wall Street rose 19% at 16 firms studied by Levels.fyi.