London banking salaries hit new high at U.S. boutique

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London banking salaries hit new high at U.S. boutique

Wall Street banking salary increases are not restricted to Wall Street. Banks in London have been hiking salaries for their juniors too, but one boutique U.S. bank has gone a step further.

Sources say that U.S. boutique William Blair has increased its London banker salaries beyond the new norms set by major banks in the City. The chart below shows William Blair's new salaries alongside the increases elsewhere. "They're top of the street," says the head of one recruitment firm, while another points out that William Blair appears to be paying £25k more than competitors at associate level.

William Blair declined to comment. It's not clear whether its higher salaries will be offset by lower bonuses. The boutique firm also hiked its U.S. salaries yesterday, and they too were above the new Wall Street average. - First year analysts at William Blair in the U.S. are now on salaries of $110k vs the $100k Wall Street average. The higher rates apply all the way up to managing director level, with bankers everywhere at William Blair seemingly receiving salaries around 10% above the average.

William Blair went on a London hiring spree in 2018. The bank also has multiple London vacancies currently, including for technology, financial sponsors and industrials juniors.

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