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Wage inflation has arrived in a big way and Jamie Dimon says CEOs ‘shouldn’t be crybabies about it’
PUBLISHED FRI, JAN 14 20223:16 PM ESTUPDATED FRI, JAN 14 20228:37 PM EST
Hugh Son

KEY POINTS
Megabanks including JPMorgan Chase and Citigroup are disclosing that hot inflation in one area — employee wages — is casting a shadow over the next few years.
JPMorgan’s professional class in particular — trading personnel, investment bankers and asset management employees — have seen pay swell during two straight years of strong performance.
“Please don’t say I’m complaining about wages; I think wages going up is a good thing for the people who have the wages going up,” Jamie Dimon, the bank’s chairman, said. “CEOs shouldn’t be crybabies about it. They should just deal with it.”

https://www.cnbc.com/2022/01/14/banks-like-jpmorgan-are-finding-out-that-inflation-is-a-double-edged-sword-.html