JPM - 2011E / 2012E Detailed Revenue IB Split (FICC, Eq)

I remember Citi posted a report on the banks overall expected performance (specifically in FICC) a while back. I believe this report by JPM gives a much more updated and detailed understanding into the expected performance of all the major banks in 2011 and 2012.

Link: https://mm.JPMorgan.com/stp/t/c.do?i=5930E-12&u=a_pd_558208.pdfh_-2igf3ms Page 32 of the PDF illustrates 2011E Page 19 of the PDF illustrates 2012E

Here's how they stack up in Revenues: (only focusing on the BB banks)

Fixed Income Markets:

Mortgages:

2011E: 1) BAC 2) C 3) DB 4) CS 5) GS 6) BCS 7) UBS 8) MS

2012E: 1) BAC 2) CS 3) C 4) DB 5) GS 6) BCS 7) UBS 8) MS

Credit Trading:

2011E: 1) GS 2) BAC 3) DB 4) UBS 5) C 6) BCS 7) CS 8) MS

2012E: 1) GS 2) BAC 3) DB 4) UBS 5) C 6) BCS 7) CS 8) MS

FX:

2011E: 1) DB 2) GS 3) CS 4) UBS 5) BAC 6) C 7) MS 8) BCS

2012E: 1) DB 2) GS 3) C 4) UBS 5) BAC 6) MS 7) BCS 8) CS

Rates:

2011E: 1) BCS 2) GS 3) BAC 4) C 5) DB 6) CS 7) MS 8) UBS

2012E: 1) BCS 2) GS 3) BAC 4) C 5) DB 6) CS 7) MS 8) UBS

GEM:

2011E: 1) C 2) BAC 3) BCS 4) DB 5) GS 6) CS 7) UBS 8) MS

2012E: 1) C 2) BCS 3) DB 4) BAC 5) CS 6) UBS 7) GS 8) MS

Commodities:

2011E: 1) GS 2) MS 3) BCS 4) DB 5) C 6) CS 7) UBS 8) BAC

2012E: 1) GS 2) MS 3) C 4) DB 5) BCS 6) BAC 7) CS 8) UBS

Equity Markets

Equity Derivatives:

2011E: 1) GS 2) CS 3) UBS 4) BCS 5) DB 6) BAC 7) MS 8) C

2012E: 1) GS 2) CS 3) UBS 4) DB 5) BAC 6) MS 7) BCS 8) C

Cash Equities:

2011E: 1) GS 2) CS 3) BAC 4) UBS 5) MS 6) DB 7) C 8) BCS

2012E: 1) GS 2) CS 3) UBS 4) BAC 5) MS 6) C 7) DB 8) BCS

Prime Brokerage:

2011E: 1) GS 2) MS 3) CS 4) UBS 5) BAC 6) C 7) DB 8) BCS

2012E: 1) MS 2) GS 3) CS 4) UBS 5) BCS 6) BAC 7) C 8) DB

13 Comments
 
Best Response

Great find, will be helpful to a lot of people.

What I find interesting is on page 19 with the global investment banking revenue table, GS is miles ahead of every other BB ( although the table excluded JP Morgan which would have been #2 for revenues)

Morgan Stanley has really taken a hit especially in fixed income.

 
jimzGreat find, will be helpful to a lot of people.

What I find interesting is on page 19 with the global investment banking revenue table, GS is miles ahead of every other BB ( although the table excluded JP Morgan which would have been #2 for revenues)

Morgan Stanley has really taken a hit especially in fixed income.

GS's headcount is almost double many of the other banks.

 
awm55The report basically indicates that no one on this forum knows what the hell they are talking about.
I think its more the like the fourth or fifth indicator
Making money is art and working is art and good business is the best art - Andy Warhol
 
dwight schrute
awm55The report basically indicates that no one on this forum knows what the hell they are talking about.
I think its more the like the fourth or fifth indicator

That was exactly my point in posting this!

Bunch of high school and college kids who think they know everything. I hope this helps answer all those questions about "Which S&T desk and bank is the best" and the sorts.

You can clearly see that each investment bank is stronger in certain areas. The revenues on the GEM desk at HSBC and SocGen's Equity Derivatives desk are far bigger players than nearly all their BB counterparts.

Furthermore, with news coming out that X Bank's FICC / Equity revenues are lower than the market, you can clearly see what area they're lagging behind the market.

As a first time reader couple years ago, I almost believed everything I read in these forums and blogs -- HA! If you can get on any of these desks (for the most part) you should consider yourself a lucky and fortunate person.

 

Is there a reason why you decide to not include BNP/Socgen/HSBC, etc? It's not like the report focused on 1000 banks, it focused on just the big banks, of which you decided to narrow it yourself for some stupid reason.

 

Commodi impedit et vel doloribus eum ut illum veritatis. Quam sit pariatur ut necessitatibus itaque pariatur. Unde consequuntur hic odit soluta itaque. Qui ut ea facilis nobis ut nobis. Earum minus similique fugit. Totam et adipisci dolorum iste blanditiis et vitae.

Aut id dolore pariatur iusto animi quod. Optio aut nesciunt deserunt ad suscipit at ratione. Enim necessitatibus eveniet magnam quo inventore. Assumenda explicabo minima eum neque. Dolor adipisci a vel reiciendis molestiae enim voluptas inventore.

Career Advancement Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Morgan Stanley 07 97.9%
  • Guggenheim Partners 01 97.4%

Overall Employee Satisfaction

October 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 03 98.9%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 12 97.4%

Professional Growth Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

October 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Secyh62's picture
Secyh62
99.0
4
kanon's picture
kanon
99.0
5
dosk17's picture
dosk17
98.9
6
GameTheory's picture
GameTheory
98.9
7
CompBanker's picture
CompBanker
98.9
8
Betsy Massar's picture
Betsy Massar
98.9
9
DrApeman's picture
DrApeman
98.9
10
Linda Abraham's picture
Linda Abraham
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”