As we mentioned last month, bonuses at JPMorgan will be down "about 10-15 percent across the board in IB." Why then, do you keep reading stories about 'record bonuses'? It's called division. Charlie Gasparino breaks down the math.
“JPMorgan is going to announce bonuses next week, the week of January 17th. From what we understand they are going to be down, particularly in the Investment Bank. Overall the bonus pool has gone up at JPMorgan and at other firms. That why you keep hearing about record bonuses. But there are more people to spread across those bonuses...Overall, they are going to be somewhat skimpy.”
Chaz also cautions that non-JPMorgan employees should be taking notes., you On when JPMorgan’s bonuses will be announced:
“We could cover every firm or we could cover one firm kind of is the example for the way the rest of Wall Street is going to go, and that’s JP Morgan.”