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elleng

(130,156 posts)
Tue Jul 12, 2016, 01:19 PM Jul 2016

Jamie Dimon: Why We’re Giving Our Employees a Raise

'WAGE stagnation. Income inequality. A lack of quality education. Insufficient training and skills development.

Issues like these have led approximately two-thirds of Americans to believe that the next generation will be worse off than the last. And it is true that too many people are not getting a fair opportunity to get ahead. We must find ways to help them move up the economic ladder, and everyone — business, government and nonprofits — needs to play a role.

At JPMorgan Chase, we’re starting by giving thousands of employees a raise.

Our minimum salary for American employees today is $10.15 an hour (plus meaningful benefits, which I’ll explain later), almost $3 above the current national minimum wage. Over the next three years, we will raise the minimum pay for 18,000 employees to between $12 and $16.50 an hour for full-time, part-time and new employees, depending on geographic and market factors.

A pay increase is the right thing to do.'>>>

http://www.nytimes.com/2016/07/12/opinion/jamie-dimon-why-were-giving-our-employees-a-raise.html?

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Jamie Dimon: Why We’re Giving Our Employees a Raise (Original Post) elleng Jul 2016 OP
i heard most of them haven't gotten raises for a decade.... eom artyteacher Jul 2016 #1
The minimum wage doesn't go up, nobody gets a raise Warpy Jul 2016 #3
Bless you Mr. Scrooge!!! guillaumeb Jul 2016 #2
Gee,you think Dimon can afford it? Wellstone ruled Jul 2016 #4
giving a raise to what's left of the employees after the staff cuts nt msongs Jul 2016 #5

Warpy

(110,913 posts)
3. The minimum wage doesn't go up, nobody gets a raise
Tue Jul 12, 2016, 01:44 PM
Jul 2016

unless they're unionized or in management.

This is why it's so vitally important to raise the minimum wage to a living level and then index it to inflation. We should also fix the CPI market basket so another bastard like Greenspan can't fiddle with it and substitute beans for hamburger.

guillaumeb

(42,641 posts)
2. Bless you Mr. Scrooge!!!
Tue Jul 12, 2016, 01:35 PM
Jul 2016

On the other side:

JPMorgan Chase & Co. boosted Jamie Dimon’s pay 35 percent, tying most of the package to future performance after a record share of investors rejected the bank’s compensation practices last year.

The bank awarded Dimon, its chief executive officer and chairman, $27 million for 2015, up from $20 million a year earlier, according to a regulatory filing Thursday. The package includes $20.5 million in performance share units, a new pay element tied to future targets. Proxy advisers had complained last year that the company lacked concrete goals for its executives. Dimon also got a $5 million cash bonus and a $1.5 million salary.

http://www.bloomberg.com/news/articles/2016-01-21/dimon-s-pay-jumps-to-27-million-with-most-tied-to-performance


 

Wellstone ruled

(34,661 posts)
4. Gee,you think Dimon can afford it?
Tue Jul 12, 2016, 02:00 PM
Jul 2016

Remember after 9/11 when JP Morgan and all their affiliates slapped a wage and hiring freeze as major changes in Vendor Purchases. Tons of fulltime employees went down the road to be replaced by temps. Bottom line,it was their answer to the Boom Boom Room Lawsuit's.

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