paid his fundsters more last year, even as he paid his investment
Dawn Kopecki and Jeffrey McCracken of Bloomberg
that average pay (wages plus bonuses) for J.P. Morgan
] asset management
executives rose six percent in 2012, even as the unit's net income rose seven percent to
$1.7 billion. Asset management includes PMs and other fundsters, as well as traders and
That compares with a three percent drop in pay for J.P. Morgan's investment bankers, the
wire service reported, as well as a 50 percent drop for Dimon himself. J.P. Morgan's M&A
fees fell 17 percent last year, and equity underwriting fees fell 13 percent. Overall
profit at J.P. Morgan rose 12 percent to a $21.3 billion last year.
Three executives told Bloomberg
that J.P. Morgan's incentive pay is based on the
whole company's performance, followed by performance for the employee's division, then
unit, then personal results.
Neil Anderson, Managing Editor
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