piggy bank

Summary List Placement

Warburg Pincus is bumping pay by up to 30% for analysts and associates at the private-equity firm. The move will increase total compensation for investing-focused junior workers, meaning base plus bonus. 

Employees learned of the increases on an internal call last week, according to a source directly familiar with the situation. Warburg explained the raises as a move to bring comp in line with market rates, the source said. The news was first shared on social media by the finmeme account Litquidity on Wednesday evening. 

Warburg declined to comment to Insider. 

First-year associates at Warburg receive total compensation north of $330,000, according to user-submitted data from Wall Street Oasis.

Some Wall Street firms have recently told workers they’re getting special bonuses as the financial services industry takes notice of widespread burnout among junior talent in addition to fierce competition for workers as deal flow spikes.

Insider previously reported that Apollo Global Management has offered associates tiered bonuses reaching up to $200,000, if they agree to stick with the firm through September 2022.

Apollo has seen a raft of recent associate departures during a difficult year of remote work and demanding deal volumes.

Separately, Insider reported in March that Credit Suisse extended raises and one-time $20,000 bonuses to junior to mid-level talent in its global capital markets and advisory group.

The issue of widespread burnout among junior bankers came to light after two presentations made by investment-banking analysts at Goldman Sachs over the past year showcased the demands they were facing, and painted a bleak picture of an arduous year working from home.

  Royal funeral offers chance for William, Harry to reconcile

Join the conversation about this story »

NOW WATCH: Epidemiologists debunk 13 coronavirus myths

…read more

Source:: Business Insider

      

(Visited 2 times, 1 visits today)
News

Leave a Reply

Your email address will not be published. Required fields are marked *