Jamie Dimon is "jealous" of Revolut. Chase UK employees might be too
JPMorgan has been working on its digital banking product, Chase, for more than half a decade now. It has historically focused on just the US and UK, but has taken its first steps into international expansion more recently. Accounts released by 'JPMorgan Europe Limited' the entity behind Chase UK, show that working there isn't quite as lucrative as working for a UK native fintech digibank.
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The accounts, for the full year of 2025, show that JPMorgan paid 703 employees an average of £52.1k ($69.8k) in 'salaries and wages'. Revolut paid £70.6k on average to its global workforce in that same time period. ChaseUK seeming also pays less than Monzo, whose annual report, released earlier this month, showed that it paid £65.8k on average to its 4674 employees. Pay for Chase UK staff also marginally decreased from the year before, when JPMorgan Europe Limited employees earned an average of £52.9k.
Headcount in the entity fell from 815 in 2024 to 703 in 2025. Although it is the primary entity for Chase UK, it does not employ all of Chase's employees, so it's not clear whether there has been any headcount reductions or whether people have simply been moved to another entity. It's thought that, as Chase expands into more European markets, headcount will increase.
JPMorgan is an admirer of the UK digital banking scene. CEO Jamie Dimon said earlier this month that he's "jealous, damn it," of Revolut's ability to build at speed. The bank has attempted to emulate Revolut's culture somewhat when building Chase; early into development, it was alleged to have promoted technologists with minimal management experience into VPs and directors within that team, which is a strategy Revolut is famous for employing. Chase hasn't rolled out quite as fast as Revolut, however. It officially launched in Germany, its third market, just last month.
JPMorgan declined to comment.
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