UK left out of 20% pay increase
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Sign Up NowSourceWhile first year analysts at several major U.S. banks, including Goldman Sachs Group Inc., are looking forward to fatter paychecks, it seems their European counterparts can brace themselves for relative austerity. Credit Suisse Group AG and Deutsche Bank AG are monitoring the situation and haven’t made any decisions yet on increasing salaries, people close to the banks say.
A person familiar with the matter says that Barclays in the U.S. will increase junior banker pay in line with the rest of the street. It’s not clear whether Barclays will do the same for its operations in Europe. UBS AG said it was comfortable with the current mix of pay and bonuses, according to one person familiar with the matter.
http://dealbreaker.com/2014/08/pay-hike-watch-14-raises-for-everyone-under-25/A host of big banks including Goldman Sachs Group Inc., J.P. Morgan Chase & Co., Citigroup Inc., Bank of America Corp. and Morgan Stanley have decided to raise pay or are seriously considering the move for many junior bankers…
Goldman Sachs will increase starting salaries for many first-year analysts by about 20%, according to a person familiar with the bank’s plans. The pay raise, slated to go into effect next year, will apply only to analysts in the U.S., the person added…Bank of America is boosting the pay of its junior investment-banking and trading employees by at least 20% next year, a person familiar with the matter said.
The bank included the higher salaries in the offers it made this month to summer interns who were invited to return as full-time employees in 2015, the person said. J.P. Morgan may raise some employee salaries by at least 20 percent as well, a person familiar with the matter said Wednesday. Internal discussions are continuing on the subject, though a pay raise for some is likely since rivals have raised pay to try to make their offers more attractive. Citigroup is also considering a pay increase for analysts and associates, a person familiar with the bank said.