They often don't for internships (vs Google), but for salaried employees they quickly surpass Google a few years out. More boutique firms and quant funds do have very high paying internships for Masters and PhDs however.
What places don't pay their interns? The quant/algo funds I and my friends interned at all paid 80-100k annualized, and every single person I knew that went into an internship at a big bank got paid 70-80k annualized.
