Pay
Goldman Sachs and Credit Suisse Raise Junior Banker Pay, Joining Rivals
- Goldman raises first-year analyst pay by more than rivals
- Credit Suisse is still eager to attract talent amid stumbles
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Goldman Sachs Group Inc. and Credit Suisse Group AG are joining rivals in bumping pay for junior bankers, following uproar earlier in the year over the work-till-you-drop culture exposed by the pandemic.
Goldman Sachs will now pay first-year analysts at least $110,000 up from $85,000, according to people familiar with the matter. Their second-year counterparts will get $125,000 up from $95,000 while first-year associates will go to $150,000, the people said, asking not to be identified discussing a private matter.