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Bonus Watch '13: JP Morgan

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If you liked your bonus in 2012, you'll love what's coming to you this year.

JP Morgan plans to keep overall compensation per employee roughly flat this year from last year, lagging gains at rivals, as the bank's massive legal settlements weigh on its results, two sources familiar with the matter said. Bonuses were largely set early this week, though payouts could change in unusual situations or if there is an unexpected change in the company's results during the last six weeks of the year, said the sources, who spoke on the condition of anonymity. It is not yet clear what Chief Executive Jamie Dimon's bonus for 2013 will be. Pay increases have been muted across much of the banking sector in the aftermath of the financial crisis, but JPMorgan's plans are on the low end of what experts forecast for the industry this year.

[Reuters]

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