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BofA, Perella Lift Junior-Banker Salaries in Battle for Talent

  • First-year analysts at BofA will now receive $100,000
  • Guggenheim increases base salaries for second time since May
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Bank of America Corp. is boosting base salaries for junior bankers, joining firms including Perella Weinberg Partners and Evercore Inc. in lifting pay to lure young talent on Wall Street.

At Bank of America, first-year analysts across the global corporate and investment banking, markets, and research divisions will receive $100,000, up from $95,000, according to a person with knowledge of the matter. Second-year analysts will get base pay of $105,000, and third-year will receive $110,000, said the person, who asked not to be identified discussing information that isn’t public. The new salaries take effect in February.