JPMorgan, BofA to hike salaries of junior bankers

|About: JPMorgan Chase & Co. (JPM)|By:, SA News Editor

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.