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 seems to pull out all stops when it comes to non-war measures against Pakistan

    After a decision to fully exercise its rights on the Indus water treaty, Narendra Modi government opened another front to hit at Pakistan’s economic

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Roopen Roy

Hi-touch is always better than hi-tech

Robotics and machine learning have been sending chills down the ...

Zehra Naqvi

The fountain of eternal youth

The pursuit of eternal youth is a multi-billion dollar industry ...

Shona Adhikari

Where Bhupen Khakhar rubs shoulders with Georgia O'Keeffe

The next India Art Fair (IAF) is scheduled to take ...