Citi, Bank of America May Raise Salaries

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Looks like that bailout money is being put to use (from CNBC):

Following a Morgan Stanley plan unveiled last week, Citigroup and Bank of America are likely to soon raise base salaries for investment bankers to compensate for limits on annual bonuses, the Wall Street Journal said, citing people familiar with the matter.

Goldman Sachs and JPMorgan Chase are not considering an increase in base pay, the paper added, citing two people familiar with the matter.

BofA spokeswoman Jessica Oppenheim was quoted as telling the paper that “pressures in the investment-banking and capital-markets businesses continue to be intense,” adding that the bank would “take the steps necessary to retain key employees.”

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