CACIB was never, and never will be, the highest paying bank on the street, which is OK given the work/life balance.
However, what was previously an acceptable gap to competitors in base pay for FRONT OFFICE roles has grown significantly over the last 2-3 years. I would need an increase of 30% to 55% to be at the same base pay at a broad range of EUR/US/ASIA peers. Part of this problem includes small base pay increases for staff being promoted at ALL levels (ASO --> VP and even to Director)
As a result, turnover at the Associate and VP level (i.e. the future of the bank) has been immense and will continue. And, because pay is so below market, replacements are always at the level below the outgoing employee and typically have less experience/proficiency (we cannot afford to hire qualified candidates from direct peers more often than not). Not a sustainable practice in de-skilling the organization and in reality, creates even more dependence on those of us who are yet to pull the trigger and leave.
There are no real reasons given for stagnant/nominal pay increases other than non-sensical politics at Head Office involving retail arms of the parent bank (no other banks with massive retail arms seem to have this problem?). HR claims retention is a priority, but only seeks to address issues to forcing employees to agree to extended notice periods and non-compete clauses in exchange for annual base pay adjustments equal to inflation.
