The Japanese lender joins a host of Wall Street and global peers in increasing starting salaries for junior analysts.
Competition for junior bankers is heating up, and Mizuho's Americas unit is the latest to announce that it, too, will pay its first-year junior analysts $100,000, up from $85,000, «Bloomberg» reported on Friday, citing people familiar with the matter.
In recent weeks HSBC, UBS, Credit Suisse, Goldman Sachs, Morgan Stanley, J.P. Morgan, Citigroup and Deutsche Bank all announced salary bumps for junior analysts.
The banks are hoping stem a tide of defections of burned out bankers, and stave off moves to the tech sector, where banking talent is in demand as it muscles in on financial services. Earlier this year, first-year analysts at Goldman Sachs complained about a gruesome work life of long hours and cutthroat deadlines in an internal survey that was leaked.
