Did HSBC just become the last bank to hike juniors' salaries?
Windfall at HSBC
Last month Deutsche increased salaries for its junior bankers. This month we understand that HSBC has (belatedly) done the same.
Recruiters say HSBC just raised salaries for its juniors in M&A by 12.5%, with first year associates going from £80k to £90k. This puts the British bank on a par with its European rivals, with UBS, Credit Suisse and Barclays all paying first year associates a similar amount.
The best paying bank in London at a junior level remains Morgan Stanley, which reportedly pays its most junior associates salaries of £98k.
HSBC wasn't immediately available to comment.