Morgan Stanley to raise junior bankers' base salaries by 25%

Tags: News
Morgan Stanley is raising base salaries for junior bankers by about 25% in a bid to improve working conditions and retention, Bloomberg said, citing people briefed on the matter.

Associates and vice presidents in its investment banking and capital markets divisions worldwide will be the beneficiaries of the pay hike, Bloomberg reported, citing the people.

Morgan Stanley has also introduced time-management guidelines and internal conferences on career development for junior and mid-level bankers, said Bloomberg, quoting one of the people.

Investment banks across Wall Street have tried to ease schedules of junior bankers. Institutions such as Bank of America Corp have outlined measures to ensure that analysts and associates are recommended to take a minimum of four weekend days off per month.

Morgan Stanley did not immediately respond to an email asking for comment after normal business hours.

EDITORIAL OF THE DAY

  • India must move one level higher and be the exporter of electronics to the world

    INDIA hopes to achieve net zero-import balance in the electronics industry over the next three years.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Cut & Thrust:The mother of all battles

Gassed out after the interminable interplay of the Yadavs in ...

BK Chaturvedi

The politics of election

Elections in five states have been announced by the election ...

Rajgopal Nidamboor

Of life’s essentiality and synchrony

It is no big deal to think of psychology as ...