(Bloomberg) -- Wells Fargo & Co. is joining major Wall Street banks in rewarding junior bankers for fielding a surge in business amid the coronavirus pandemic.
The San Francisco-based bank will pay special bonuses of $10,000 to analysts and $20,000 to associates, incrementally over six months, according to person with knowledge of the plan.
“The past year has placed great pressure on our talent in certain client facing/revenue-generating roles in the corporate and investment banking division due to unprecedented deal flow and client activity,” the company said in a statement. “As such, we’ve decided to pay our analysts and associates a financial allowance.”
