Goldman Sachs to raise junior banker pay by 20 percent -NY Post

NEW YORK Wed Aug 20, 2014 11:51am EDT

NEW YORK Aug 20 (Reuters) - Goldman Sachs Group Inc plans to raise pay for junior bankers by 20 percent next year, the New York Post reported on Wednesday.

The pay raise means that first-year analysts will earn about $85,000 before collecting bonuses in 2015, the newspaper said. Analysts who have been at the Wall Street bank longer will earn more.

A Goldman Sachs spokesperson did not immediately respond to a request for comment.

Goldman's pay hike comes as Wall Street is making an effort to ease strains on junior bankers by limiting hours they work and compensating them better. (Reporting by Lauren Tara LaCapra)