Jamie Dimon’s reality check for ambitious workers: Get over the ‘grunt part’ of a job

Speaking with Patricia Devine, head of global corporate sales at JPMorgan, in the women’s class lounge in Davos, Switzerland, Dimon laid out the harsh reality for workers striving for instant gratification: “There’s going to be a big part of every part of the job. Get over that.”

Dimon’s advice stands out in an era of increasing disengagement among young workers, a demographic that has recently shown a marked decline in workplace engagement, according to Gallup, with Gen Z employee engagement falling by five percentage points between 2024 and 2025. The 2025 report from recruitment firm Randstad also shows that the average company tenure for a Gen Z worker in the first five years of employment has shrunk to just 1.1 years. This is in stark contrast to the average tenure of baby boomers of 2.9 years when they were starting their careers. While the Randstad study attributes these short stints to a desire for growth and not just job hopping, Damon says young people should get a job so they can advance their careers. He did not clarify how long he recommended the young man stay in the job.

“Don’t get a new job,” Damon said. “Some people are always thinking, and they are ruining their lives because they should be enjoying what they are doing.”

Damon criticizes the much-lauded preference for work-life balance over other priorities, such as competitive compensation and benefits packages, or goal-oriented work. Today, work-life balance dominates workplace discourse, now overtaking salary as a key motivator for job seekers, according to Randstad. Dimon also said work-life balance should be a priority for his workers, especially those with family. But to balance the two, he says, one must “work smart.”

However, nothing can replace hard work in the pursuit of career success, according to the CEO.

“Work hard. There’s no substitute,” Damon said. “I still see a lot of people who think they can shortcut something heroic. That’s absolutely not true.”

Generational reset

Young workers are entering a workforce that is significantly different from that of older generations. Many Gen Zers have reached working age during the COVID-19 pandemic and have assumed remote or hybrid work as the norm. However, Dimon said the mindset could be detrimental to career growth, telling Gen Z workers “you can’t learn from your basement,” after urging corporate employees to return to full-time in-person work, adding that the move would push workers to innovate.

However, the Gen Z challenge may not be due to laziness. Part of the backlash is structural. Opportunities for young workers are dwindling as entry-level skills become increasingly automated, leaving a void where traditional early growth once occurred. In another interview with The Economist At the World Economic Forum meeting in Davos, Dimon advised workers: “Don’t put your head in the sand” in the face of AI automation.

“That’s the way it is,” he said, acknowledging that he will likely employ fewer workers in the coming years because of artificial intelligence.

Having an open mind and setting a goal

Aside from asking workers to work hard, speak concisely, and develop empathy, Damon advised workers to stay open, especially in an era when career paths change rapidly.

“Be open about relationships, changing jobs, and trying something different,” he advised. “Then you will have a great career.”

Damon also stressed the need for purpose in one’s career. The “hard work” he calls upon workers to face is not necessarily an obstacle, but a step on the road to achievement. He says purpose can be found in a variety of professions, not just in banking and finance, but in teaching or caregiving.

“When they say ‘pursuing happiness’ in the ad, it means accomplishing something in life, doing something meaningful,” Damon said.