UBS Offers $40,000 Bonuses to Help Retain Junior Bankers

The transcript discusses the challenges banks face in retaining junior employees, focusing on work-life balance and competitive compensation. It highlights UBS's strategy of offering significant bonuses to retain talent amidst competition from other sectors. The discussion also touches on the broader economic context of inflation and cost-cutting measures.

In what ways are banks competing for junior bankers according to the text?

What broader economic issues are hinted at in the discussion of bonuses and employee retention?