London

BARCLAYS plc is planning to raise pay for junior investment bankers as the bank seeks to retain talent, said two people with knowledge of the matter.

Some Barclays junior employees are set to receive an increase of 20 per cent to 40 per cent in salary and bonuses, said two people familiar with the plans, who asked not to be identified because the move isn't public. The plans have prompted mid-level employees to express their unhappiness about the shrinking compensation gap with their juniors, they said.