As banks wheel out initiatives to ease the burden on their junior bankers, new research suggests pay is rising for those at the very bottom of the ladder.

According to an annual survey published by recruitment firm Dartmouth Partners, the average starting salary for an analyst out of university was £67,000 last year, including bonus, up from £66,000 in 2012. However, this is still below the £75,000 average that was on offer in 2011/12.