Does a record year for IB revenue directly translate into record comp?

Does a record year for the investment bank mean a record year for comp?

My experience was juniors were insulated from the highs and lows, while VPs and above had pretty major swings based on team performance.

With JPM's Q3 showing IB revenue of $2.4B, up 29% YoY - surely everyone's expectations are sky-high.

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