JPMorgan, BofA to hike salaries of junior bankers

• JPMorgan (NYSE:JPM) and Bank of America (NYSE:BAC) are planning to raise junior employees' salaries by at least 20%, Reuters reports
• Many banks have been considering pay hikes, as Wall Street continues to ease strains on junior bankers by limiting the hours they work and compensating them better.
• Yesterday, Goldman Sachs (NYSE:GS) announced its plans for salary increases and Citigroup (NYSE:C) is now considering a similar pay raise.