Morgan Stanley raises pay for junior bankers, capital markets employees - Business Insider
Reuters
Published Jul 28, 2021 17:09
Updated Jul 28, 2021 17:48
(Reuters) - Morgan Stanley (NYSE:MS) has raised the base pay for first and second-year bankers in its investment banking and global capital markets division, according to a Business Insider report on Wednesday. https://
Base pay for first-year bankers in both divisions will now begin at $100,000 before adding bonus and second-year bankers will earn a minimum of $105,000, the report said, citing a person familiar with the matter.
The raises, which were announced internally on Wednesday, will come into effect from Aug 1, the Insider report said.
Such raises were based on a review of annual compensation, the report added, in order to adjust pay with market conditions as part of the bank's normal course of business.
Morgan Stanley declined a Reuters request for comment.
The investment bank's move comes weeks after peer Citigroup Inc (NYSE:C) said it would raise base pay for junior bankers at its banking, capital markets and advisory (BCMA) division.
Late last month, Business Insider had also reported that JPMorgan Chase & Co (NYSE:JPM) was raising base compensation for first year analysts to $100,000. https://
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Written By: Reuters
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