Morgan Stanley raises pay for junior bankers, capital markets employees – Business Insider

© Reuters. FILE PHOTO: The corporate logo of financial firm Morgan Stanley is pictured on the company’s world headquarters in New York, New York January 20, 2015. REUTERS/Mike Segar/File Photo

(Reuters) – Morgan Stanley (NYSE:) has raised the base pay for first and second-year bankers in its investment banking and global capital markets division, according to a Business Insider report on Wednesday. https://

Base pay for first-year bankers in both divisions will now begin at $100,000 before adding bonus and second-year bankers will earn a minimum of $105,000, the report said, citing a person familiar with the matter.

The raises, which were announced internally on Wednesday, will come into effect from Aug 1, the Insider report said.

Such raises were based on a review of annual compensation, the report added, in order to adjust pay with market conditions as part of the bank’s normal course of business.

Morgan Stanley declined a Reuters request for comment.

The investment bank’s move comes weeks after peer Citigroup Inc (NYSE:) said it would raise base pay for junior bankers at its banking, capital markets and advisory (BCMA) division.

Late last month, Business Insider had also reported that JPMorgan Chase & Co (NYSE:) was raising base compensation for first year analysts to $100,000. https://

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