In an op-ed published today in the New York Times, JPMorgan Chase Chairman and CEO Jamie Dimon wrote that the bank will raise its minimum pay to a range of USD 12 to USD 16.50 an hour, depending on market and location factors.
Its current minimum pay is USD 10.15 an hour. Dimon also writes that the bank will invest more in training that helps workers get promoted to higher-paying positions.
The federal minimum wage has been USD 7.25 an hour since 2009, but since early 2015, major US companies including Wal-Mart, Target and McDonald's have announced pay increases for at least some of their employees.
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