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Goldman Sachs extends junior pay rises to trading, asset management and wealth management

The move follows rivals JPMorgan and Bank of America

A presentation by a group of Goldman Sachs analysts in March outlining declining mental and physical health as weeks consistently exceeded 100-hours has been the latest driver of change
A presentation by a group of Goldman Sachs analysts in March outlining declining mental and physical health as weeks consistently exceeded 100-hours has been the latest driver of change Photo: Getty Images

Goldman Sachs has bumped junior salaries for some employees in its sales, trading, research and asset management units, as pay rises increasingly spread beyond young dealmakers.

The US investment banking giant will now pay starting salaries in the units of $110,000, up from $85,000 previously, and second years will receive $125,000, according to people familiar with the matter. This will apply largely to front office roles and will not apply across the divisions, they added.

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