Another base raise
With inflation and other jobs raising their salaries, what are the likely chances that we see another raise in base salaries this year to 110k for most banks so that it’s at least even across the street?
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99% its a 0% increase lol
Yeah exactly. Practically no one is leaving banking due to inflation
True and I think the Comp increases more or less solved the retention issue.
RBC just announced another $5K raise in base. New base salaries are now 100/105/110 for AN1-3. Retroactive back to November 2021.
Isn't this still below a lot of the other banks?
It is
When was this announced? I have a buddy who works at RBC and he hasn’t heard anything yet
I got an email from HR with a memo letter. Dated 1/6.
@ Papa Dimon
Very unlikely. It's not like there are competitors on comp (you could argue tech I guess, but that is such a different career path it's not in the mix for your typical finance major) people leaving banking are not going to be swayed by another $10k a year
Comp is up 20-50% this year vs inflation of 7%. Very much doubt we’re getting another raise.
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