Which banks raised base pay for IB analysts for the second time?
It seems crazy to me that all this is happening again within 6 months or so. Is it because more people are leaving the industry?
Hi there, I can confirm JPM and Citi did raise base pay again. At JPM, first year IB analysts increased from $100k to $110k, second year analysts to $125k, and third year analysts to $135k. Citi did something similar (I believe third year analysts increase to $135k instead of $125k).
There are many reasons as to why certain banks chose to do so. Some claim it’s a result of inflation but I believe there is a significant factor of fewer people choosing and staying in finance.
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does this second raise only apply to IB?