Tuesday, August 26, 2014

Wall Street bankers follow Obama’s lead and raise salaries of their employees by 20%

For banks like Goldman Sachs and Morgan Stanley, where access to cheap money is as easy as dialing up the Fed, it is of no surprise that despite wages falling for 99% of the American workforce, these institutions have no problem giving out raises to their employees at the same time when President Obama is calling for all businesses to hike up their costs through the increasing of the minimum wage.

Goldman Sachs Group Inc. will increase 2015 salaries for junior employees in the U.S. by about 20 percent, according to a person briefed on the decision.
The raises will apply to employees with the title of analyst across all divisions, said the person, who asked not to be identified speaking on personnel matters. Analysts are typically recent college graduates.


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