JUNIOR BANKERS GET PAY BUMP WSJ’s Sara Jerv
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Posted On: 08/21/2014 9:49:25 AM
JUNIOR BANKERS GET PAY BUMP
WSJ’s Sara Jerving and Justin Baer with the happy news for Wall Street’s young guns: “Wall Street banks, under pressure to improve working conditions for junior employees, are raising salaries. A host of big banks including Goldman Sachs, J.P. Morgan Chase, Citigroup, Bank of America and Morgan Stanley … have decided to raise pay or are seriously considering the move for many junior bankers. The pay hikes, which are generally coming in the form of salaries as opposed to year-end bonuses, could hit 20%-25% at some firms. Goldman Sachs will increase starting salaries for many first-year analysts by about 20%”
“… Junior analysts will now make about $85,000, not including bonuses, up from about $70,000, the person said. In recent years, Wall Street firms have faced pressure to pay their junior employees more, while cutting back on their hours, as recruiting has suffered from the reputational damage of the financial crisis, the long hours of working at an investment bank and a challenging revenue environment for the industry”
http://on.wsj.com/1q1A2bX
WSJ’s Sara Jerving and Justin Baer with the happy news for Wall Street’s young guns: “Wall Street banks, under pressure to improve working conditions for junior employees, are raising salaries. A host of big banks including Goldman Sachs, J.P. Morgan Chase, Citigroup, Bank of America and Morgan Stanley … have decided to raise pay or are seriously considering the move for many junior bankers. The pay hikes, which are generally coming in the form of salaries as opposed to year-end bonuses, could hit 20%-25% at some firms. Goldman Sachs will increase starting salaries for many first-year analysts by about 20%”
“… Junior analysts will now make about $85,000, not including bonuses, up from about $70,000, the person said. In recent years, Wall Street firms have faced pressure to pay their junior employees more, while cutting back on their hours, as recruiting has suffered from the reputational damage of the financial crisis, the long hours of working at an investment bank and a challenging revenue environment for the industry”
http://on.wsj.com/1q1A2bX
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