Goldman Sachs has become the last of the big US investment banks to raise salaries for junior staff in response to complaints about burnout from new recruits caught in a dealmaking boom during the pandemic.
First-year analysts will now earn a base wage of $110,000, rising to $125,000 in their second year, according to people familiar with the decision. Those at the more senior associate rank will receive a boost to $150,000.
The figures do not include annual bonuses, which can be multiples of salaries in buoyant years.
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