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JPMorgan bankers are set to reap mid-single digit annual bonuses as the bank increases its rewards.
Equities traders and investment bankers are set to get better bonuses than their counterparts in fixed-income teams.
JPMorgan’s stock traders led a 22% gain in revenue in the first nine-months of 2018, versus that period the year before, to $5.5 billion.

JPMorgan bankers are set for improved bonuses after the bank’s performance in 2018 boosted annual compensation for its staff.

On average, employees will see gains in the mid-single digits versus bonuses received last year, a person familiar with the matter told Business Insider. Equity traders and investment bankers are set to get a bigger share than their counterparts in the fixed-income unit, the person said. Wall Street bankers make healthy base salaries, but the annual bonus is where the industry’s best earn their fortunes.

JPMorgan will start announcing bonuses on January 16 and continuing the next couple of days. The bonuses get paid out at the end of January, depending on where the employee is based.

JPMorgan’s stock traders led a 22% gain in revenue in the first nine-months of 2018, versus that period the year before, to $5.5 billion, Bloomberg reported, citing its own data. Revenue from investment banking increased by 2.5%.

And JPMorgan is topping peers across several divisions — Coalition data compiled in the first half of the year found the bank was tied for No. 1 in its global league tables for equities, but snagged the top ranking in investment banking and FICC (fixed-income, currencies and commodities).

Read more: Goldman Sachs’ 1MDB problems are eating into employee morale, and insiders worry the firm will use its legal woes as an excuse to scrimp on bonuses

A representative at the bank declined to comment.

December’s stock market wipeout — the worst December since the Great Depression— …read more

Source:: Business Insider

      

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