JPMorgan shrinks investment bank compensation pool

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JPMorgan’s corporate and investment bank allocated 4.4% less for employee compensation in the first nine months of the year as the division’s revenue climbed 5.7%.

Bloomberg News reports that the unit’s $8.69bn in compensation fell to 31% of revenue, excluding accounting adjustments, from 34% in the same period of 2012, according to figures posted Friday on the firm’s website.

The amount equals $165,774 for each of the division’s employees.

Companywide compensation, JPMorgan’s largest expense, was $23.8bn in the nine-month period, up 1% from a year earlier.

Hit the link below to access the complete Bloomberg article:

JPMorgan Shrinks Investment Bank Compensation Pool 4.4%

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