Bloomberg: JPMorgan said planning to boost investment banking bonus pot

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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.

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

JPMorgan to Boost Bonus Pool for Stock Traders, Bankers

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