Did HSBC just become the last bank to hike juniors' salaries?

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Last month Deutsche increased salaries for its junior bankers. This month we understand that HSBC has (belatedly) done the same.

Recruiters say HSBC just raised salaries for its juniors in M&A by 12.5%, with first year associates going from £80k to £90k. This puts the British bank on a par with its European rivals, with UBS, Credit Suisse and Barclays all paying first year associates a similar amount.

The best paying bank in London at a junior level remains Morgan Stanley, which reportedly pays its most junior associates salaries of £98k.

HSBC wasn't immediately available to comment.

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