UBS Dangles $40,000 Bonuses to Slow Junior Banker Defections
This content was published on May 10, 2021 - 08:58
May 10, 2021 - 08:58
(Bloomberg) -- UBS Group AG will pay a $40,000 one-time bonus to its global banking analysts when they are promoted, doubling what some competitors are offering, as lenders seek to reward younger employees weighed down by a surge in dealmaking.
Starting as soon as this month the Swiss bank will pay the sign-on bonus to analysts promoted to associates on top of any regular salary increases, said people familiar with the move who asked not to be identified because the information is private. The amount represents about 30% of the annual base pay of a newly promoted associate, one of the people said.