The Committee for Better Banks
100 signatures reached
To: Jamie Dimon, CEO of JPMorgan Chase
JPMorgan Chase: IT'S TIME TO RAISE YOUR TELLER WAGES
There’s no excuse for Jamie Dimon to be earning unprecedented bonuses while more than one third of tellers live on public assistance. Hard work should be rewarded. I demand a living wage for bank tellers.
Why is this important?
There are two banking industries in this country. One where CEO pay continues to rise and record profits dominate the news, and another where the front-line workers who make the banks run are seeing their wages decrease and their health benefits cut.
At a time when the top fifty financial CEOs’ compensation collectively rose by 26% in 2010 and by 20.4% in 2011,[i] a recently released report by the Committee for Better Banks found that more than one third of bank tellers rely on public assistance.
Low wages in retail bank positions in the banking industry cost tax payers, who end up subsidizing the wages of bank tellers and despite hundreds of millions of dollars in New York City public subsidies filtering into Wall Street banks, major banks continue to move jobs out of New York in search of lower wages.
Low wages in the financial sector are hurting our economy but executive pay continues to climb. Enough is enough. We demand better pay for bank tellers.
At a time when the top fifty financial CEOs’ compensation collectively rose by 26% in 2010 and by 20.4% in 2011,[i] a recently released report by the Committee for Better Banks found that more than one third of bank tellers rely on public assistance.
Low wages in retail bank positions in the banking industry cost tax payers, who end up subsidizing the wages of bank tellers and despite hundreds of millions of dollars in New York City public subsidies filtering into Wall Street banks, major banks continue to move jobs out of New York in search of lower wages.
Low wages in the financial sector are hurting our economy but executive pay continues to climb. Enough is enough. We demand better pay for bank tellers.
