<p>Banks are facing cutthroat competition to hire and are being forced to pay more to recruit and keep talent, with both Citigroup Inc and JPMorgan Chase & Co saying they are having to pay competitively for top people.</p>.<p>Global banks have had to come up with perks like higher pay and bonuses to attract and retain talent as the economy recovers and people look to shift around.</p>.<p>"Hiring has been very competitive across the business," Citigroup Inc Chief Financial Officer Mark Mason said on a call with reporters. That's being seen at the entry levels as well, he said.</p>.<p>"We have seen some pressure in what one has to pay to attract talent," said Mason. "So yes, you've even seen it at some of the lower levels, I should say entry levels in the organization."</p>.<p>That included analysts or associate bankers, Mason said, adding there was a "lot of competitive pressure on wages."</p>.<p>JPMorgan CFO Jeremy Barnum told reporters on a call that they are facing pressures.</p>.<p>"It is true that labor markets are tight, that there's a little bit of labor inflation and it's important for us to attract and retain the best talent and pay competitively for performance," Barnum said.</p>.<p>The comments came as the banks reported their earnings.</p>.<p><strong>Check out DH's latest videos:</strong></p>
<p>Banks are facing cutthroat competition to hire and are being forced to pay more to recruit and keep talent, with both Citigroup Inc and JPMorgan Chase & Co saying they are having to pay competitively for top people.</p>.<p>Global banks have had to come up with perks like higher pay and bonuses to attract and retain talent as the economy recovers and people look to shift around.</p>.<p>"Hiring has been very competitive across the business," Citigroup Inc Chief Financial Officer Mark Mason said on a call with reporters. That's being seen at the entry levels as well, he said.</p>.<p>"We have seen some pressure in what one has to pay to attract talent," said Mason. "So yes, you've even seen it at some of the lower levels, I should say entry levels in the organization."</p>.<p>That included analysts or associate bankers, Mason said, adding there was a "lot of competitive pressure on wages."</p>.<p>JPMorgan CFO Jeremy Barnum told reporters on a call that they are facing pressures.</p>.<p>"It is true that labor markets are tight, that there's a little bit of labor inflation and it's important for us to attract and retain the best talent and pay competitively for performance," Barnum said.</p>.<p>The comments came as the banks reported their earnings.</p>.<p><strong>Check out DH's latest videos:</strong></p>