Jamie Dimon - CEO of JPMorgan Chase - is an idiot and out of touch

[Anonymous]

To be honest Jaimie is right. I hired a person last year who did not go direct to college. Got a bank teller job and did community college, after two year degree done switched to another job helping customers open accounts, open CDs, apply for loans and started on-line 4 year college which took him like 4 years part time. He then got a college level job did 2-3 years and I hired him at 35.

I also have a 35 year old who went away to school, then did a MBA then only started working at age of 23. A paper pusher person.

The ex Bank Teller 35 year old is like 5x as qualified as has real experience and working 17 years.

[Anonymous]

Anonymous wrote:To be honest Jaimie is right. I hired a person last year who did not go direct to college. Got a bank teller job and did community college, after two year degree done switched to another job helping customers open accounts, open CDs, apply for loans and started on-line 4 year college which took him like 4 years part time. He then got a college level job did 2-3 years and I hired him at 35.

I also have a 35 year old who went away to school, then did a MBA then only started working at age of 23. A paper pusher person.

The ex Bank Teller 35 year old is like 5x as qualified as has real experience and working 17 years.

Something seems off in your timeline. You mean started working at 32?

[Anonymous]

Too many undocumented and immigrant visa taking jobs

[Anonymous]

OP is committed to their placing their gut instinct about the availability of certain jobs over both economists/statistics from the BLS and the CEO of the company hiring that particular position. I'm not sure it's worth the effort to try to convince them otherwise.

[Anonymous]

Anonymous wrote:To be honest Jaimie is right. I hired a person last year who did not go direct to college. Got a bank teller job and did community college, after two year degree done switched to another job helping customers open accounts, open CDs, apply for loans and started on-line 4 year college which took him like 4 years part time. He then got a college level job did 2-3 years and I hired him at 35.

I also have a 35 year old who went away to school, then did a MBA then only started working at age of 23. A paper pusher person.

The ex Bank Teller 35 year old is like 5x as qualified as has real experience and working 17 years.

I don't think the fact that you hired someone who was a bank teller 15 years ago really changes what OP is saying about bank teller jobs today.

[Anonymous]

The other point was that the employer is subsidizing the insurance which is part of compensation.

[Anonymous]

Anonymous wrote:My 17 year old can’t even find a minimum wage ice cream shop job.

Really! I’m not in the DC area, but my newly 18 year-old was offered 5 jobs this summer. Of course she applied to over 50 and Only got about 10 interviews. She is currently juggling 2 for about 40-50 hours a week and is finding out about “time and a half” because she’s working retail today - Juneteenth!! She’s saving for spending money for college.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Jamie Dimon is a firehose of stupidity.

He always saying dumb things. The bigger issue is why people treat him like a font of wisdom.

+1, I am so tired of seeing him quoted as if it's meaningful.

[Anonymous]

Jamie is a superstud. Nobody can work the hours he can.David Solomon of Goldman Sachs is an alpha who can wo k unlimited hours. According to their PR we should all be like that.

[Anonymous]

Anonymous wrote:Too many undocumented and immigrant visa taking jobs

oh yes, they are taking the bank teller jobs that Dimon is talking about

[Anonymous]

Anonymous wrote:OP is committed to their placing their gut instinct about the availability of certain jobs over both economists/statistics from the BLS and the CEO of the company hiring that particular position. I'm not sure it's worth the effort to try to convince them otherwise.

LOL The CEO is not hiring for those positions - bank teller, coder, cyber (?)...

[Anonymous]

Anonymous wrote:His statement is so ignorant and out of touch.

Dimon pointed out that a 17-year-old bank teller could make $40,000 a year, adding: “And if you happen to have a family at 18 or whatever, you get $20,000 in medical benefit for your family. You can be a welder, you can be a coder, you could be cyber, you could be automotive—all of those jobs are $40,000 to $60,000, $70,000 a year."

Bank teller job? He's in banking, and he doesn't know that bank teller jobs are pretty much extinct?

Coder? He doesn't read the news? Entry level coding jobs have either been offshored or taken over by AI (full disclosure: DC is a CS major0.

Has he tried living on $40K with a family, especially around NY where he's based out of?

I do agree with him about college, and how the goal of going to college for the vast majority should be about jobs. But, other than that, that guy is so out of touch it's ridiculous that should be telling people about what kind of jobs they should be getting.

https://finance.yahoo.com/news/jamie-dimon-says-schools-making-110211155.html

I am wondering if you are a paid troll. In any event you are wrong. There are over 300,000 bank tellers in the country. Coding is still here and not going anywhere but just not as hot. In NY hard to live on 40k. In almost all non-major cities it is what people make. You are the one that does not know the facts.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I get that it's a tough job market this year-- very tough for 2025 grads. But I don't think he's talking about the current job market as much as the equilibrium.

In 2024, there were about 400,000 tech jobs posted nationwide that requested 0-3 years of experience. In terms of bank tellers, the total number is going down, but retirements are high so there are expected to be about 27,000 openings a year in the next ten years.

Unemployment for recent CS grads is above 6%. Bank teller jobs are going to decline much more rapidly in 10 years. Even if you were to get that job now, what would you do in 10 years? You have no training for anything else.

He is totally out of touch.

6% is a good unemployment rate for recent grads not bad. And yes there may be fewer bank tellers but the job is not going away and it is a high turnover job so there will always be jobs.

[Anonymous]

I really doubt bank tellers is low COL areas are making 40k.

[Anonymous]

Anonymous wrote:Dimon is a huge hypocrite. He refused to speak out about Trump, even when directly questioned and then had stories planted in the news about how his wife was out canvassing for the Dems. He didn’t know that it would be this bad, but he knew Trump wouldn’t be good…and he stayed silent and greedy.

While it’s gross, that’s not as bad as Charles Schwab being in the Oval Office on the insider trading day and the felon crowing that he made $1B that day.

I was going to switch to JP Morgan because rn it’s the lesser of two evils.