Bonus pot helps to top up bankers' salaries May 2011
Posted date: 27 April 2011
JPMorgan Chase has shared out a bonus pot worth £2 billion and increased pay by six per cent.
Following first quarter profits of £3.4 billion, up 67 per cent, staff are expected to receive an average of more than £76,000 each. Around 5,000 UK-based employees and investment bankers are expected to profit.
Over the past year the firm has employed an additional 1,500 investment bankers across the globe. Thanks to a six per cent increase in pay, plus salary, benefits and bonuses, an average investment banker at JPMorgan can expect a monthly pay packet of £25,500.
The bank saw most of its profits come from its investment banking division. Other improving sectors within the company included its credit card lending and its asset management division. However, the firm still made losses on its mortgages and retail banking division.
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