Well, not necessarily if you check out the fine print…remember, the “special master” Kenneth Feinberg, oversees compensation for companies receiving the most government support, and Citigroup is one of those.

He can reject pay plans he deems excessive and review compensation for the top 100 salaried employees at these firms.

So, you won’t see the top 100 highest paid employees at Citi being a part of the bank’s revised compensation package. This move to increase compensation for other Citigroup employees is obviously being taken to avoid losing workers to competitors…those that have already paid back the TARP funds or never received government assistance; and Citigroup has seen some defections in the past months.

Our finance recruiters are working with several of these firms who are offering lucrative deals to entice employees away from the banks, so whether or not the salary increases by Citigroup will pay off remains to be seen…