In an agressive bid to steer its top students away from overseas competitors such as Morgan Stanley and Goldman Sachs, the Japanese securities firm Nomura will be offering nearly three times the normal starting pay to 40 students. Come April next year, students from some 650 candidates will be recruited to its investment banking, trading and other departments, Bloomberg reports.
The selected students will be offered a base salary of 6.5 million yen (about $75,000). Nomura also has plans to hire 560 graduates in the next fiscal year, at the regular starting pay of 2.4 million yen.
The move is aimed at bolstering its international business, and is in line with the practice of Japanese firms making job offers as early as a year before graduation so new hires can start work as soon as they're out of school.