JPMorgan’s junior bankers get a hike in their salaries, the first-year analysts slated to make six figures for the first time ever beginning next month. It is facing a worker shortage as its post-pandemic business cranks up like almost all other industries.
That means first-year analysts will jump from $85,000 to $100,000 — the first time they’ve ever pulled down six figures. Second-year analysts will see their pay increase from $90,000 to $105,000 and third-year analysts will go from $95,000 to $110,000.
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The hikes for JPMorgan’s bankers are expected back in the office next month. Wall Street keeps young talent from fleeing amid a dizzying workload from a spike in deals. In March, a leaked slideshow presentation compiled by 13 junior Goldman Sachs analysts detailed complaints about 100-hour workweeks. This has claimed to an extreme work pressure which is unsuitable for the mental health of the employees.