July 28 Morgan Stanley is raising base
salaries for junior bankers by about 25 percent in a bid to
improve working conditions and retention, Bloomberg said, citing
people briefed on the matter.
Associates and vice presidents in its investment banking and
capital markets divisions worldwide will be the beneficiaries of
the pay hike, Bloomberg reported, citing the people.
Morgan Stanley has also introduced time-management
guidelines and internal conferences on career development for
junior and mid-level bankers, said Bloomberg, quoting one of the
Investment banks across Wall Street have tried to ease
schedules of junior bankers. Institutions such as Bank of
America Corp have outlined measures to ensure that
analysts and associates are recommended to take a minimum of
four weekend days off per month.
Morgan Stanley did not immediately respond to an email
asking for comment after normal business hours.
(Reporting By Sudarshan Varadhan; Editing by Diane Craft)