As the EU bonus cap becomes a reality, we wonder which firms are likely to compensate bankers by increasing base salaries.
Here's a note of the 9 firms we feel are more likely to increase base salaries (most of whom will need to hike salaries because they will be keen to keep key employees)
Bank of America Merrill Lynch
And 9 that might find it politically difficult / be reluctant to increase base salaries (either due to anti-bank sentiment in their countries, or as they are scaling-back their exposure to investment banking in any case).
UBS (recently increased investment banking salaries anyway)
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