Citi Boosts Junior Bankers’ Pay, Joining JPMorgan and BofA (2)

Citigroup Inc. will increase annual base salaries for its junior bankers, the latest Wall Street lender seeking to retain younger staff facing burnout from working long hours during the pandemic.

The bank is increasing salaries for program vice presidents, analysts and associates in its banking, capital markets and advisory unit, according to a memo to staff seen by Bloomberg News. The raises range from $15,000 to $25,000 and under the changes a first-year analyst base salary will now be $100,000 according to a person familiar with the matter who asked not to be identified discussing private information.

“Especially in this ...