Bonus Watch: JP Morgan Structured Credit Drops 40%

Posted by John Carney, Dec 17, 2007, 12:27pm

In the latest round of bonus wipe-outs, it seems the JP Morgan’s structured credit group is feeling the pain of the credit crunch in its bonus numbers this year. Nearly every member of the small group will see it’s bonuses decline this year as compared to last year, with the total year end incentive pay for the group declining by more than 40%, according to information obtained by DealBreaker. While salaries for the group were slightly higher this year than last, the year end incentive pay numbers are dramatically lower, meaning that nearly every member of the team will receive less total compensation this year. (Two lucky souls, who are not among the top paid members of the structured credit group, are receiving more this year than last year.)

Keep in mind that these compensation numbers are provided by readers. We want more! Please email us your bonus information or just the latest bonus rumors! Send it to tips@dealbreaker.com. JP Morgan would not comment on compensation numbers.

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Posted in: Bonuses, JPMorganChase

Comments

Posted by just me, Dec 17, 2007 12:43PM

what sort of numbers are these? whats the dollar values here

Posted by , Dec 17, 2007 1:14PM

Correct me if I am wrong, but JPM people won't get numbers until January. Numbers have likely been ironed out, but the masses haven't been informed.

That would mean a leak from very high levels, and call me a cynic, but I'm not buying it just yet.

I wouldn't be surprised if they end up down 40%, just having a hard time believing actual numbers have already been leaked.

Posted by , Dec 17, 2007 2:36PM

bberg article suggesting MER fixed income numbers also to be down 40%; corporates group to be down ~ 60%

Posted by , Dec 17, 2007 8:06PM

it's "its," not "it's."

Posted by , Dec 17, 2007 8:55PM

8:06 this is a blog, which means quick typing, no spell check, top of the waves. We all understand what he means and I'm sure that, were he to check carefully, he would have caught the error that you gleefully pointed out. Your asswipe comments are more appropriate when critiquing an academic paper.

Posted by , Jan 14, 2008 12:26PM

To make matters worse, the new policy states that of you miss one day of work you lose your bonus! This has caused a massive flu epidemic at the location in Lake Mary, FL. Employees come to work very ill so they do not miss their bonus. This causes a vicious cycle of illness that makes all employees suffer over and over again.

Posted by , Jan 14, 2008 12:26PM

To make matters worse, the new policy states that if you miss one day of work you lose your bonus! This has caused a massive flu epidemic at the location in Lake Mary, FL. Employees come to work very ill so they do not miss their bonus. This causes a vicious cycle of illness that makes all employees suffer over and over again.

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