• 29 Jul 2014 at 11:44 AM

Morgan Stanley Has A Treat For Senior Junior Bankers

It’s not all “if you don’t like your pay STFU or GTFO” tough love over at the House of Gorman. The firm’s oldest junior bankers are getting a nice little bump to their compensation to help out with liquidity issues they might be facing. Junior junior bankers are getting hope that they might one day get raises too.

Morgan Stanley is raising base salaries for junior bankers by about 25 percent as part of an effort to improve working conditions and retention, according to people briefed on the matter. The firm is boosting salaries for associates and vice presidents worldwide in its investment-banking and capital-markets units, said the people, who asked not to be identified because the discussions weren’t public. Mark Lake, a spokesman for the New York-based bank, declined to comment. Morgan Stanley’s move is intended to aid younger employees with their cash flow amid higher bonus deferrals since the financial crisis, said one of the people. The salary increases won’t necessarily mean a similar jump in bonuses.

Morgan Stanley Said to Boost Junior Banker Salaries 25% [Bloomberg]

8 comments (hidden to protect delicate sensibilities)
Show all comments ↓

Comments (8)

  1. Posted by just sayin' | July 29, 2014 at 12:27 PM

    Gorman is an MBA.

  2. Posted by Jr.Mister(sans CFA) | July 29, 2014 at 1:11 PM

    Hmm, since there's no "junior mistmakers" tag I assume that those of us deemed future rain makers will still be entitled to significantly more than this across the board stuff, right?

  3. Posted by Anonymous | July 29, 2014 at 1:57 PM

    VPs are more mid-level, but glad to see there's a move to keep the talent from going to the buy side. Natural attrition is significantly less than the amount of lower-level bankers leaving to PE shops, and it looks like MS is catching on and trying to stay top-heavy.

  4. Posted by Guest | July 30, 2014 at 5:45 PM

    This is the DB comment section, not your discipleship group's listserv

  5. Posted by david | July 31, 2014 at 10:43 AM

    There is no amount of bribery that will ever make up for the way I was treated as an ML Associate in the pre 9/11 heydays. Saved my loot, took the package, ran my own book, and retired. So it's not all bad.

  6. Posted by flappy bird | August 3, 2014 at 3:51 AM

    I have been waiting for someone to share this post. This has actually made me think and I hope to read more. Thanks a lot for sharing with us.

  7. Posted by Guest | August 4, 2014 at 8:17 AM

    Awwww… VPs are mid-level? Not when there's vice chairmen, chairmen and heads above the MDs they're not. They used to be, but the Moore's law of title inflation has undermined that…

  8. Posted by Guest | August 4, 2014 at 8:18 AM

    Yeah. This is about MS, not ML. Your attention to detail may be why people treated you badly.