Citigroup Raising Salaries Up To 50% 
(Neanderthal, 2946 
Points) on 6/24/09 at 3:10am
In a signal that they won't be repaying TARP funds any time soon, Citigroup is raising salaries (primarily in investment banking and trading) by up to 50% in an effort to retain talent:
http://www.bloomberg.com/apps/news?pid=20601087&sid=akHCO4dj2KJc
“Citi continues to examine ways to ensure its employee compensation practices are competitive in this very challenging market environment,” Citigroup spokesman Stephen Cohen said yesterday, declining to comment further. “Any salary adjustments are not intended to increase total annual compensation, rather to adjust the balance between fixed and variable compensation.”
Other banks have made similar moves recently. Are the days of slave wages offset by massive bonuses over for good?
I'll be delighted when the
by Devils AdvocateI'll be delighted when the analyst salary is raised until then...
Interview Guides
GMAT Tutors
WSO Resume Review
Not sure if we are gonna be
by jgl12345usaNot sure if we are gonna be affected by it since our bonuses aren't gonna be huge...but it will be interesting to see just how much/if any analysts are affected by this
Good to hear
by BowserI'm sure there will be some hufffing and puffing by the populist mouthpieces, but if the US gov't wants to get paid back then Citi needs to keep their talent so they can continue to bring in revenue.
Well
by BankonBankingWell it all sounds well and good, but Citi forgot to mention that they are paying in food stamps and welfare - that Vikram, he's a crafty one.
And to Devils Advocate - Seconded!
IBanker
www.BankonBanking.com
Articles, News, Advice and More
Break Into Investment Banking
IBanker
www.BankonBanking.com
IBanker@BankonBanking.com
Help support the site - like it, show it - drop BankonBanking.com or an article in your postings!
Articles, Interview Prep, Resume Revisions, the IB Interview Survival Guide and more - Stop by No
Yo, no one complains about
by big unitYo, no one complains about shit like this anymore.
The main stream media is trying to force this down our throats as examples of corporate greed, but these days the audience is divided as such:
- normal, hardworking people who went to college who understand that on Wall Street bonuses are the same as commissions, which is common in every profession
- and also populist people who live in the middle of large fields - they were confused by this whole situation and stopped complaining a little while ago.
good days are over
by JackShengfor worse-performing banks, but that is the rule of evolution, isnt it?
talent
by pjtaeciti is taking the right approach
the US should choose the smartest, rather than the most powerful
when selecting the "most qualified" person.
no wonder it's suffering so much.
I heard that Citi will be
by youngmoneyI heard that Citi will be giving out $50,000 in bonus to top tier first year analysts. If the base pay increases as well, that's one hefty pay for a "struggling" bank.