JPMorgan sets aside less pay for staff

JPMorgan Chase set aside 3% less to pay employees at its investment bank in the first nine months of 2014 as revenue in the division slumped, driven by a 12% drop in fixed-income trading.

Bloomberg News reports that the chart shown on their article shows the accrual has gotten smaller for three straight years, falling to $8.43 billion, according to figures the New York-based firm released Tuesday.

It’s still enough to pay each of the division’s employees an average $163,420 for three quarters. Actual pay varies widely, reflecting employees’ roles and seniority.

Wall Street traders and bankers focus on bonus pools this month to get a sense of how much firms may allot at the end of the year. JPMorgan increased the percentage of revenue it set aside for pay to 32% from 31% last year at the corporate and investment bank, a segment it established for reporting purposes in 2012.

Hit the link below to access the complete Bloomberg News article:

JPMorgan Sets Aside Less for Investment Bank Pay on Slump

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