Banks Dangle 30% Raises to Meet India IPO Demand

Banks are stepping up hiring and offering raises of as much as 30% for investment bankers as a booming market for share sales is attracting a wave of fresh competition, boosting demand for experienced dealmakers.

Firms are looking to increase the total number of positions by 15% to 20%, according to estimates by the executive search firms Sheffield Haworth and Native, compared with last year’s growth of about 18%. That would mean adding as many as 300 new bankers across the industry this year, based on Bloomberg calculations. Among the new entrants, 360 One WAM Ltd., Emirates NBD Capital India and DBS Group Holdings Ltd. are building out equity capital markets teams.