Bank of America raises pay for analysts -memo

  • 8/13/2021
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NEW YORK, Aug 13 (Reuters) - Bank of America told staff on Friday that it will raise pay for analysts in its global corporate and investment banking, markets and research divisions, according to an internal memo seen by Reuters. Banks across Wall Street have been raising pay for lower-level staff this year to compensate them for grueling workloads and hours, particularly in the investment banking divisions where workers have handled record levels of deals. First-year analysts in those three divisions will now earn $100,000 in base pay. Second-year analysts will $105,000, and third-year analysts in the global markets and global research divisions will earn $110,000. Those salaries are in line with other banks that recently announced changes. (Reporting by Elizabeth Dilts Marshall Editing by Chizu Nomiyama) Our Standards: The Thomson Reuters Trust Principles.

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