Nomura Joins Wall Street Rivals in Boosting Junior Banker Pay

(Bloomberg) -- Nomura Holdings Inc. is raising the salaries of its entry-level bankers to $100,000, the latest lender to boost pay as the industry struggles to retain junior talent that has been inundated by deal flow amid the work-from-home grind.

The Japanese lender will introduce the pay bump in July, according to a person with knowledge of the matter. The move aligns it to banks including Bank of America Corp., Barclays Plc and JPMorgan Chase & Co.

Nomura’s plan was reported earlier by Financial News.

Wall Street is trying to ease the burden on younger bankers, traditionally the engine room of investment banks. A presentation from a group of Goldman Sachs Group Inc. analysts thrust the issue into the fore earlier this year when it shed light on their 100-hour weeks and declining physical as well as mental health.

As well as boosting compensation, some lenders have also introduced policies in recent months that include restricting weekend hours and mandating vacations.

Read more about these kind of policies

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