On Wall Street, bonuses are out, bigger salaries are in. But as Wall Street seeks to skirt public outcry over bonuses, it could be creating a different kind of compensation monster.

JP Morgan Chase is the latest bank to consider boosting salaries for its workers, according to the New York Post, rather than rely on the old bonus system. Citigroup and Bank of America also have signalled their intent to increase salaries to keep talent from jumping ship.