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Moelis Sees Talent War Driving Junior Banker Pay Hikes
- Wall Street CEO is ‘paying people more than we ever have’
- Firm bumped up first-year analyst comp to $110,000 a year
Source: Bloomberg
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After the biggest windfall in years for junior bankers, with starting salaries increasing by 30% or more to as much as $120,000, Ken Moelis is prepared to bump up pay even further next year.
“We’re not doing it grudgingly. Business is booming,” the founding chairman and chief executive officer of Moelis & Co. said in an interview Thursday on Bloomberg Television. “The deal flow, if it continues to rise the way it does, we need the best talent in the world.”