Investment bank Lazard raises pay for junior U.S. analysts

Aug 3 (Reuters) – Lazard Ltd is raising pay for its junior financial-advisory analysts in the United States, matching the salaries at some other major U.S. banks, a spokesperson for the investment bank confirmed on Tuesday.

The salary raise by Lazard was first reported by Bloomberg News earlier in the day.

Lazard’s first-year analysts will be paid at least $100,000, while second- and third-year analysts will earn $110,000.

Investment banks have raised the pay for newer associates this summer to take the edge off heavy workloads in a year of unprecedented deal-making.

Citigroup, Morgan Stanley, UBS Group AG and Deutsche Bank AG have increased pay for their first-year analysts by about $15,000 to roughly $100,000.

Goldman Sachs Group Inc has also raised salaries for its junior employees in the investment banking division, Business Insider reported on Sunday.

Source: Read Full Article