Societe Generale has increased salaries for its junior bankers on Wall Street, as the battle for younger talent heats up amid a surge in departures across the sector.

The French bank has increased pay for entry-level analysts in front office functions including investment banking and trading to $100,000 from around $85,000, according to people familiar with the matter, bringing it in line with most European and US rivals that have hiked salaries in recent weeks.