LONDON, Aug 4 (Reuters) - HSBC has increased pay
for first-year analysts in its United States investment banking
business to $100,000 from $85,000, a source familiar with the
matter said on Wednesday, following similar moves by Wall Street
rivals in recent weeks.
The decision, first reported by Financial News, was taken
several weeks ago but was communicated to staff this week, the
source said, and pay rises for those further up the junior ranks
were awarded in May.
HSBC earlier this week topped up its bonus pool by $900
million after reporting profits more than doubled, as it
released cash set aside to cover bad loans from the COVID-19
pandemic.
(Reporting by Lawrence White
Editing by David Holmes)
HSBC Holdings (HSBA)