Morgan Stanley (MS) has raised salaries for starting analysts in its institutional securities division. It has been the latest major bank to increase pay as demand for entry-level workers remains high.
According to a report by Business Insider, the pay change is to take effect in January.
According to the same media, citing a source with knowledge of the matter, Morgan Stanley has increased pay for all starting analysts to $110,000 in its sales and trading, research, investment banking and global capital markets divisions.
The Wall Street bank raised the base salary for first- and second-year bankers in its investment bank and global capital markets divisions in July to at least $100,000 from about $85,000 previously.
Morgan Stanley shares closed lower for the fourth time in the past ten trading sessions in New York on Wednesday. The stock went down 0.11% ($0.12) to $104.31, after touching an intraday high at $105.07. The latter has been a price level not seen since August 30th ($105.81).
Shares of Morgan Stanley have risen 52.21% so far in 2021 compared with a 20.45% gain for the benchmark index, S&P 500 (SPX).
In 2020, Morgan Stanley’s stock went up 34.06%, thus, it again outperformed the S&P 500, which registered a 16.26% gain.
Analyst stock price forecast and recommendation
According to TipRanks, at least 11 out of 15 surveyed investment analysts had rated Morgan Stanley’s stock as “Buy”, while 4 – as “Hold”. The median price target on the stock stands at $104.57.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
