Barclays has followed its Wall Street rivals, including JP Morgan and Bank of America, and hiked pay for junior investment bankers, says Gillian Tan on Bloomberg.
According to an anonymous source, the bank will lift the base salaries of all US analysts by $15,000 and its US associates and vice-presidents by $25,000 and take first-year analyst base salaries to $100,000. Staff based outside of the US will receive similar pay rises.
Barclay’s first-year analysts will now be on the same salary as their peers at JP Morgan. Bank of America promised in April to raise the pay of its junior bankers following concerns over “burn-out” among younger staff.
Credit Suisse and Wells Fargo have handed out one-of functions, junior bankers at Houlihan Lokey have been offered holidays. At the same time, Jefferies provides a range of fitness perks, such as Peloton exercise bikes and Apple products.
Kris Paterson is a writer for WhatJobs.com