Comp Watch '09: JPM

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Re: Bearpont Morgan Chase employees being compensated (partially) in stock, we're told 50% of the worthless portion (JK...JK I'm serious) of their bonuses will vest after two years, and the other 50% after three. In related news, the House of Dimon has instituted salary freezes for all worker bees making over 60K, including those who've been promoted ("new positions take effect at old salary"). The freeze was rumored as early as September, but MDs apparently claimed as recently as two weeks ago that promotions would go through "at less than expected salary bumps but increases still, and also that standard raises across business lines were coming. Now they're saying we will be taken care of mid-year, 'once the pressure is off,' but no one has their fingers crossed."
On the one hand: that's cold, Dimon. On the other: it could be worse?
Earlier: Bonus Watch '09 JPM

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