The Financial Times (sub. req'd) is reporting that despite the year's economic upheaval many investment bankers are still commanding top salaries. From the FT:
Partly driven by a need to hold on to good staff -- and partly to offset the threat of bonus taxes or caps in the US -- UBS, Merrill and Morgan Stanley have all increased their basic pay substantially. Citi now plans to do the same.
According to insiders and rivals, market salary rates for managing directors have jumped from about $250,000 only a few months ago, to closer to $400,000.
Meantime, the Guardian reports that Goldman Sachs employees are set to receive the biggest bonuses the firm has ever given out.
categories: News
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