Average percentage increases thought likely to be in the mid-single digits.
JPMorgan Chase plans to increase annual bonuses at its corporate and investment bank, as a growing number of Wall Street firms share proceeds from a busy year, according to a person briefed on the decision.
Bloomberg News reports that average percentage increases will be in the mid-single digits, with equities traders and investment bankers probably getting more than that, the person said. The division accounts for about a third of the firm’s revenue.
Compensation consultant Johnson Associates Inc. had predicted in November that Wall Street equities traders will reap the biggest bonus increases, as their counterparts on fixed-income desks potentially get less. Bankers who advise on mergers and acquisitions were expected to see their payouts cut by as much as 5%, according to Johnson. Yet, people familiar with Morgan Stanley’s plans said last month it was planning increases for both traders and bankers.
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