JP Morgan slashing IBD bonus pool
The title says it all.
http://www.bloomberg.com/news/2010-10-13/investme…
Do you guys think other banks will do the same?
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It's rough waters in the industry in general right now, with slow business activity. I wouldn't be surprised if most banks were in the same boat.
I feel like a lot of this is just because volumes were down in the S&T side this summer. This is just one of four quarters and it contradicts the WSJ article from yesterday saying this year would see record bonuses on Wall Street.
All that to say, I don't think you can take any one of these articles on Wall Street pay and use it to determine where you will come out at the end of the year. Your personal number comes from many factors of which some include what bank you work for, what side of the business you are in, which group you are in, politics, your performance and other things.
In just the past few weeks there have been articles on both sides of this so I wouldn't get too worked up over it just yet.
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