Apr
30
Morgan Stanley Plans to Boost Junior Banker Pay as Much as 25%
By-
Analysts to gain promotions more quickly, firm memo shows
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Banks have been increasing perks to retain young employees
Morgan Stanley plans to raise some salaries and offer quicker promotions as part of its years-long push to improve conditions for junior bankers, according to people familiar with the matter.
Base salaries for most associates in investment banking and capital markets will rise by 20 percent to 25 percent, the people said, asking not to be identified because they aren’t authorized to speak publicly about the moves. It’s the first big raise for associates in almost four years, and may differ by region, the people said. Analysts will also be promoted to associate in two years rather than three, according to a memo sent to staff…
