Where are the pay raises coming from?
With the pay raises for juniors, I was wondering where these pay raises are coming from? Obviously there was an insane amount of deal flow this year, but for banks that will continue to pay higher salaries in the future, will this come from senior bank members' salaries? Or will it come from the impact the profit of the bank as a whole?
Thanks!
your future bonuses
Also wondering
This year (and clearly banks are projecting it into the near future as well) record deal flow = record revenues, so it’s easy to justify the pay bump.
In the future when there’s a recession or deal flow dries up for whatever reason, it probably is coming out of our bonuses. Don’t know a bank on the street that was paying bonuses below 25k ever (the amount of the raises), so if things are bad they can always slash bonuses and total comp will end up the same.
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