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• Wall Street firms are struggling to retain talent amid the pandemic and competition from other businesses.
• Entry-level employees receive large starting salaries—$100,000 and up.
• Bonuses are now $25,000 to $200,000 depending on your time in the office.

Faced with a shortage of junior bankers, Wall Street’s top banks are scrambling to find and retain talent by offering eye-popping salaries for entry-level and mid-level positions.

As first reported by Business Insider, here’s how some of Wall Street’s biggest companies are raising salaries in 2021 (in alphabetical order).


The global alternative investment management firm reportedly quit several young executives earlier this year, forcing Apollo to dig deep into its pockets to make new hires that can lighten the load on current workers.

Apollo offers associates bonuses between $100,000 and $200,000 depending on how long they have been with the company, Insider reported. Associates will need to stay with the company until September 2022 to receive payments.

Bank of America

Associates and vice presidents of Bank of America’s U.S. investment banking business will see their salaries increased by $25,000, the report said, citing sources.

Analysts will also benefit from a small upside of $10,000.


Investment banking analysts will receive a base salary increase of $15,000, while partners and vice presidents will receive a $25,000 increase, similar to Bank of America.

Barclays employees were expected to see the increase by July 1, Insider reported.

black rock

A memo sent to BlackRock employees specified that the base salary of employees at the director level and below would receive an 8% base salary increase, which will take effect on September 1.

Centerview Partners

Bloomberg reported that Centerview Partners was offering a $200,000 retention bonus to junior bankers in June as it seeks to control turnover.

There is a caveat: Employees will have to stay with the company for at least two years, sources said. Additionally, the company is looking to adjust its vacation plan to allow junior workers to actually enjoy their break rather than being forced to work on paid time off.


Insider reported that the raises will range from $15,000 to $25,000 depending on the job title. Citigroup analysts, partners and vice presidents in its banking, capitalization and advisory services can expect to see the payouts in August.

Swiss credit

The Swiss bank will distribute bonuses of $20,000 to several junior and intermediate workers. Credit Suisse already raised wages for higher-level workers earlier this year, while relaxing its dress code.

German Bank

According to a person familiar with the bank’s plans, Deutsche Bank is increasing analysts’ salaries by $15,000.

Bloomberg first reported that the bank would pay its first-year banking analysts $100,000 and its second-year employees $105,000 in the United States for their base salary. Global workers can expect similar percentage increases, according to the report.

Goldman Sachs

Although the investment bank hasn’t officially announced any salary increases, it has been hinted that Goldman Sachs is considering raising the salaries of junior investment bankers based on what rivals are doing.

Guggenheim Titles

An arm of Guggenheim Partners, Guggenheim Securities will also increase compensation.

By Insider:

Beginning July 1, first-year analysts will see their salaries increase from $85,000 to $100,000 per year. Second-year analysts will see their salaries increase from $90,000 to $110,000, and third-year analysts will see their salaries increase from $95,000 to $125,000. Associates, meanwhile, will receive raises of $25,000.

First-year associates will see their salary increase from $150,000 per year to $175,000. Second years will go from $175,000 to $200,000; and third years will go from $200,000 to $225,000.

Houlihan Lokey

After a tough year, Houlihan Lokey is rewarding junior workers with competitive pay and benefits. Insider reported that first-year analysts in the United States are being offered base pay increases of $5,000, a $10,000 bonus and an all-expenses-paid vacation.

Jeffries Group

Anyone want a Platoon?

Perhaps the most docile package of any company comes from Jeffries Group, which has gifted its junior employees with the popular fitness electronics for their hard work over the past year. Employees could choose a Peloton exercise bike with a one-year subscription; a mirror drive system; or a multitude of Apple products.

JP Morgan

Junior workers in the investment bank will now earn $100,000 before bonus, according to the report.

Moelis & Co

The boutique investment bank told the juniors they would receive a $10,000 stipend and try to give them more mental health time off, Financial News reported.


Financial News also said that this Japanese financial holding company was raising the salaries of entry-level workers to $100,000.

PJ Solomon

Bloomberg has reported that the financial firm will raise banker salaries as competitors attempt to poach talent.

First-year analysts at PJ Solomon will now earn $100,000, while third-year associates will earn $225,000, according to the report.

RBC Capital Markets

Litquidity, a popular Instagram meme account, reported that RBC Capital Markets is raising analyst pay by $10,000 and associate pay by $20,000. The company will also impose other changes, including fewer video calls and more vacation time.


Investment banking analysts will receive a one-time bonus of $40,000 from UBS, according to Bloomberg.

Wells Fargo

According to the report, Wells Fargo merchant and investment banking analysts and associates can expect special bonuses of up to $20,000.