HSBC Boosts First-Year Banker Pay

HSBC is reportedly the latest global bank to join the Wall Street trend of increasing salaries for junior executives.

Salaries of first-year analysts at HSBC’s investment bank will increase from $85,00 to $100,000, according to a report citing unnamed sources.

The bank introduced pay rises for existing analysts and associates in May.

London-headquartered HSBC joins a number of global financial institutions increasing wages to compete for investment banking talent including UBS, Credit Suisse, Goldman Sachs, Morgan Stanley, J.P. Morgan, Citigroup and Deutsche Bank.