Bank of America Corp. is boosting base salaries again, lifting pay for junior bankers across the firm to $100,000 from $95,000 in a bid to remain competitive in the war for young talent on Wall Street.
The company will pay that amount to first-year analysts in the global corporate and investment-banking, global-markets and global-research divisions, according to a person with knowledge of the matter. Second-year analysts will get a base of $105,000 while third years will receive $110,000, the person said, asking not to be identified discussing private information.
