JPMorgan Hikes Entry-Level Banker Pay to Help Combat Burnout

JPMorgan Chase & Co. has increased the pay for junior bankers, with first-year analysts now being offered starting salaries of $100,000 as the industry competes to retain staff through the pandemic.

The Wall Street bank is boosting entry-level banker pay before bonuses across its global workforce, according to a person familiar with the matter, who asked not to be identified discussing private information. Those working outside the U.S. will get comparable raises in local currencies, the person said.

The plan was reported earlier by Insider and Financial News.

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