In line with the Fight for $15 movement in the US, JPMorgan Chase is raising its guaranteed minimum wage for employees by 20% in the country. According to the bank’s chairman and CEO Jamie Dimon, a pay increase is a right thing to do. Under the new guidelines, the bank will raise pay for 18,000 employees to between $12 and $16.50 an hour for full-time, part-time and new employees, depending on location and division. The bank’s current minimum wage is $10.15 an hour (plus benefits), about $3 above the current national minimum. Dimon said wages for many Americans have gone nowhere for too long. Many employees who will receive this increase work as bank tellers and customer service representatives. Above all it enables more people to begin to share in the rewards of economic growth, he said.
