Revenge of the Junior Bankers

Hahn, Avital Louria
November 2004
Investment Dealers' Digest;11/29/2004, Vol. 70 Issue 46, p16
Trade Publication
This article reports that as hedge funds have begun to woo away junior bankers in the U.S. significant numbers, including associates still in school, a number of firms, including Goldman Sachs & Co., are fighting back by raising base pay for the group by more than 10%. An associate graduating from an MBA program in June 2005 will make $95,000 in base pay for 2005, up from $85,000 in 2004, a compensation source said. The hike is being led by Goldman Sachs, the source said and will no doubt lead to other adjustments in the pay continuum as pay for other junior bankers is also rising.


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