Dive Brief:
- Some interns hired by quantitative trading firm Susquehanna International Group for next summer will earn $8,600 per week, or $86,000 for the 10-week program, as a base salary. That doesn’t include a signing bonus, housing, breakfast and lunch, and other perks, according to the company’s job posting.
- The quantitative research internships are open to Master’s and PhD students in the firm’s New York City offices, where the company is legally required to share salary information thanks to the city’s pay transparency law. Similar positions at the company’s sites in Hong Kong and Philadelphia offices do not share pay information.
- Financial News, which first reported on the internships, said the rates “[underscore] a fierce battle for talent as financial players compete with tech giants for similar skillsets.” Susquehanna did not respond to a request for comment.
Dive Insight:
Competition for talent continues to heat up as companies face a skills mismatch driven by artificial intelligence adoption.
AI skills are now the most challenging for employers to find globally, passing traditional IT and engineering for the first time, according to a February report by ManpowerGroup, a workforce solutions company.
ManpowerGroup characterized the change as a “historic shift” that marks “a new era in the persistent global talent crisis.”
At the same time, leaders now view data and AI skills “as fundamental to modern work as the ability to write,” a February report by DataCamp, a platform for data and AI skill building, found.
However, while AI skills are widely considered the most important in the workplace, of the more than 500 U.S. and U.K. business leaders surveyed, about half reported “significant” skills gaps within their company.
More job titles outside of tech include AI, Indeed’s Hiring Lab said in research released Wednesday. The report found that in five of the six countries studied, “more than half of all AI-touched job titles are now outside tech occupations,” with the U.S. leading the way.