JP Morgan isn't that generous after all

3 August 2009

1 minute read

It emerged over the weekend that JP Morgan didn't pay the biggest number of $1m+ bonuses per head last year after all, Goldman Sachs did.

The New York Times reports that JP Morgan made a mistake in the figures it gave to Andrew Cuomo.

JP Morgan told Cuomo that it paid 1,626 bonuses worth >$1m last year. However, this figure included money paid out in salaries. When bonuses alone are taken into consideration, JPMorgan paid only 1,144 bonuses worth $1m+.

Last week we lauded JP Morgan as the bank most likely to pay seven figure bonuses. Sadly (for anyone at JPMorgan), this is now wrong. 4.8% of people at JP Morgan received seven figure bonuses last year, compared to 5.2% at Goldman Sachs.

Percentage of investment banking staff receiving $1m+ bonuses for 2008

Cuomo figures updated

AUTHORSarah Butcher

Global Editor

Sa
Sarah, Editor, eFinancialCaree
3 August 2009
@Tony - the 4.8% figure refers to everyone at JP Morgan who received a bonus worth $1m+. That includes the 4.1% who got $1-2m and the 0.7% who got more than $3m.
Sorry about the colour scheme. I have mental note that combinations of red, yellow and pink are liable to cause nausea.
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To
Tony
3 August 2009
The percentages in the article don't tally with the graph. Also the colour scheme in the graph is truly horrible.
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Sa
Sarah, Editor, eFinancialCaree
3 August 2009
@Blankfeiner - Thank you for your persistence. However, I refer to the answer I gave last week.
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Bl
Blankfeiner
3 August 2009
again, the vacancy is still available, Sarah. I am eagerly awaiting your reply...
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