Pay Hike Watch '14: Raises For Everyone (Under 25)!

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Well, raises for everyone at Goldman Sachs, Morgan Stanley, and Bank of America. JP Morgan and Citi are still pondering this one.

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.

Wall Street Banks Lift Pay for Junior Bankers [WSJ]
Citigroup Said to Mull Raising Junior Banker Salaries About 20% [Bloomberg]

Earlier: Morgan Stanley Has A Treat For Senior Junior Bankers; Pay Hike Watch ’15: The Youth Of Goldman Sachs

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