JPM reduces IB bonus pool 31%

Started by AvUWS

over 15 years ago

Posts: 839

Member since: Mar 2008

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Since this subject has been talked about recently: JPMorgan Chase & Co. slashed third- quarter compensation for its investment-bank employees by 31 percent from the prior quarter as the company’s revenue declined. http://noir.bloomberg.com/apps/news?pid=20601087&sid=anMByCdMaemo&pos=3

Response by printer

over 15 years ago

Posts: 1219

Member since: Jan 2008

good data point. more meaningful is the that the yr/yr pool is down by 10%, and that they've hired over 1700 employees this year in the i-banking group, which also reduces the bonus/employee. anyone out there who is in the biz know if JPM has performed better/worse/on par with the street as a whole?

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Response by AvUWS

over 15 years ago

Posts: 839

Member since: Mar 2008

Bank as a whole made 23% more money.

Earnings just in: http://www.marketwatch.com/story/jp-morgan-profit-jumps-23-2010-10-13

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