• Bank of America is bumping US investment banker salaries by $25,000 for associates and VPs and $10,000 for analysts, as Wall Street fights to retain junior talent amid massive deal flow

    3 days ago - By Business Insider

    Summary List Placement Bank of America is the latest Wall Street firm to hike salaries for young workers.
    The firm will raise salaries for associates and vice presidents in its US investment-banking division by $25,000, and analysts by $10,000, two sources familiar with the new measures told Insider. Non-US based bankers will see a similar bump, one source added.
    One source familiar with the company's plans said that the thinking behind the salary bumps is that it fits in broadly with the bank's focus for the past decade on alleviating some of the work-related difficulties that inherently...
    Read more ...

     

  • IPOs are the latest investment that fintechs like SoFi and Robinhood want to democratize. Here's how they're trying to beat Wall Street at its own game

    IPOs are the latest investment that fintechs like SoFi and Robinhood want to democratize. Here's how they're trying to beat Wall Street at its own game

    3 days ago - By Business Insider

    Summary List Placement Fintechs are hitting public markets. And they're also plotting ways to get their own users in on hot IPOs.
    In March, both SoFi and Robinhood announced plans to allow their customers to buy into companies' initial public offerings, a privilege typically reserved for asset managers and the wealthiest of investors.
    Retail brokerages - like Schwab, TD Ameritrade, and E-Trade - offering their customers shares from IPOs is nothing new. But two of the largest startup brokerages are now looking to open up the IPO market to much smaller investors, while traditional brokerages...
    Read more ...