Banking culture has recently come under closer scrutiny after a group of junior analysts at Goldman Sachs (GS) detailed horror stories about 95-hour work weeks and just five hours of sleep a night. This prompted Goldman Sachs (GS) to promise to speed up the hiring of junior bankers and free employees from working on Saturdays. JPMorgan is also raising analysts` second-year salaries from $90,000 to $105,000 and third-year salaries from $95,000 to $110,000, the source said, confirming an Insider report. A JPMorgan spokesman declined to comment. Inflation has arrived on Wall Street, putting a smile on the faces of junior bankers in the form of much thicker paychecks. Alan Johnson, managing director of compensation consultancy Johnson Associates, said the measures were a sign of a « healthy business and a tight labour market ». JPMorgan Chase (JPM) is raising analyst salaries from $85,000 to $100,000 in the first year, a person familiar with the matter told CNN Business. Senior business analysts have a variety of tasks that can often be very complex, depending on a variety of issues. You need to do several things that require good business acumen and the ability to understand and process a large amount of information related to your organization`s needs. You need to quickly understand the data challenges of a customer`s business and organization, as this is a crucial part of succeeding at work and helping a business succeed. The increases will make JPMorgan the most lucrative big bank for junior analysts — a smart move amid an ongoing talent war between Wall Street and Silicon Valley, where many tech companies offer more flexibility for remote work. At JPMorgan, the bank not only paid junior analysts more this week, but also took another step that could attract younger clients. The bank on Tuesday announced an agreement to acquire OpenInvest, a start-up specializing in the sustainable investment trend that is particularly popular among millennials.

In general, many companies are struggling to find workers, especially low-wage workers, as the pandemic subsides. The U.S. had a record 9.3 million job postings in April, according to government statistics. The salary increase as a senior business analyst is possible in different ways. Change employer: Consider changing careers for a new employer who is willing to pay more for your skills. Level of education: Earning graduate degrees can allow this role to increase their earning potential and qualify for promotions. Manage experience: If you`re a senior business analyst supervising more junior senior business analysts, this experience can increase the likelihood of earning more. Our data shows that the highest compensation for a Senior Business Analyst is $147,000/year A Senior Business Analyst with 1-4 years of experience earns an average total compensation (including tips, bonuses and overtime pay) of $71,215 based on 5 salaries. A mid-career Senior Business Analyst with 5-9 years of experience earns an average total compensation of $85,494, based on 17 salaries. One. Read more Millions of jobs and shortages of candidates. Welcome to the New Economy This website is protected by reCAPTCHA and Google`s Privacy Policy and Terms of Service apply.

Subscribe to verified Business Analyst offers. You will receive the breakdown of the remuneration details by e-mail. →To that end, Bank of America (BAC) announced last month that it would raise the minimum hourly wage for its U.S. employees to $25 by 2025. The average salary for a senior business analyst is $87,852 The increase, which takes effect July 1, means some millennials and Gen Z will earn six-figure salaries fresh out of college.