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As reported by Bloomberg News , interns at Wall Street firms are getting bigger paychecks this year, as the finance industry seeks to attract more young people disillusioned by layoffs in tech.

Companies are therefore turning to non-traditional strategies to attract and retain frontline workers.

Pearl Meyer’s survey found a 35% increase from 2018 in organizations utilizing job titles to attract prospective employees and a 10% increase in using job titles to retain key employees.

“Most Wall Street professionals will have to wait another year for a rebound,” said consultant Alan Johnson.

Key Takeaways States Decide Key Ballot Measures on Minimum Wage, Paid Sick Leave;NLRB Rules Captive Audience Meetings Are Unlawful;Report: Wall Street Bonuses Will Rise for the First Time Since 2021;Southwest Offering Buyouts to Airport Workers;Boeing Will Repay Furloughed Staff, Proceed with Job Cuts; States Decide Key Ballot Measures on Minimum Wage, Paid Sick Leave The 2024 elections have concluded, and employers may want to keep an eye on the outcomes of several key state ballot measures that likely will have significant implications for wage policies, employee benefits and compliance requirements, according to employment law firm Ogletree Deakins .

In 2022, bonuses of all kinds reached seven-year highs, as organizations ramped up efforts to attract and retain employees amid post-pandemic economic uncertainty.

Key Takeaways ;Missouri Supreme Court Upholds $15 Minimum Wage, Paid Sick Leave; ;Wall Street Bonuses to Drop Amid Market Uncertainty;Failure to Pay OT Wages Costs California Employer $1.4M; ;Colorado Lawmakers Seek to Scale Back AI Law; ;Spain Moves Ahead to Reduce Workweek to 37.5 Hours; Missouri Supreme Court Upholds $15 Minimum Wage, Paid Sick Leave Missouri’s Supreme Court voted on Tuesday, April 29, to uphold Proposition A , which will raise Missouri’s minimum wage to $15 per hour and enact statewide paid sick leave.

Goldman Sachs Group Inc. is considering another round of job cuts amid a muted dealmaking environment that has dented revenues across Wall Street, Bloomberg News reports .

For employers, retaining older workers has become crucial as the talent market has tightened in recent years.

Employers looking to attract and retain talent will consider both what their employees want today and what they’ll need in a few decades.