【masters of raana where to find save editor】JPMorgan (JPM) Plans for 20% Rise in 2020-end Trading Bonus
JPMorgan
JPM plans to boost year-end compensation for its sales and trading division by up to 20%,masters of raana where to find save editor following an impressive trading performance during the year amid the pandemic. The news was reported by Bloomberg.
While this is in contrast to other Wall Street firms that are most likely planning to keep bonuses for traders flat compared to the previous year end, the 20% raise is not enough for JPMorgan’s traders, who were expecting heavy raises, given the company’s impressive trading performance.
During the first nine months of this year, the Wall Street biggie recorded a 54% rise in fixed income markets revenues, while its equity markets revenues improved 33%.
For the rest of the company, payouts are expected to decline and the average year-end bonus pool for JPMorgan will likely be lower than that in 2019. In fact, similar to
Wells Fargo
WFC, which is planning to freeze raises for top earners, JPMorgan is planning to freeze raises for employees at the vice president level and above.
The move comes as the company is trying to focus on controlling expenses amid the coronavirus-induced uncertain economic environment.
However, for JPMorgan, the final payout is subject to change and will likely vary among desks depending on performance.
Notably, since the outbreak of the coronavirus in mid-March, trading revenues at almost all the major Wall Street finance companies improved significantly, driven by the substantial rise in market volatility along with higher client activity.
Thus, given the impressive trading performance, traders at Wall Street were expecting heavy raises this year.
However, on the expectation that the current scenario will likely persist in 2021, companies are not being very generous in deciding bonuses.
Despite recording impressive trading performance during the year,
Bank of America
’s BAC senior executives are planning for year-end bonuses similar to the previous year. At the end of the first nine months of this year, BofA recorded total sales and trading revenues of $12.01 billion, increasing 21.2% year over year. Fixed income, currencies and commodities trading revenues improved 22.8%, while equity trading revenues increased 18%.
Likewise,
Morgan Stanley
MS recorded a 39% year-over-year increase in total sales and trading revenues at the end of the first nine months of 2020.
Over the past six months, shares of JPMorgan have gained 19.2% compared with 17.7% growth recorded by the industry.
Currently, the company carries a Zacks Rank #3 (Hold). You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
Story continues
Legal Marijuana: An Investor’s Dream
Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
Download Marijuana Moneymakers FREE >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
Bank of America Corporation (BAC) : Free Stock Analysis Report
Morgan Stanley (MS) : Free Stock Analysis Report
Wells Fargo & Company (WFC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
View comments
-
Avista (AVA) Misses Q3 Earnings and Revenue EstimatesBRIEF-Zhende Medical To Buy Stake In Suzhou Medsport Products For 104.2 Mln YuanWhy the Earnings Surprise Streak Could Continue for Steel Dynamics (STLD)SoftBank Is Said to Prep Latam Fund Run by COO ClaureWill Fastly Continue to Surge Higher?BRIEF-Daido Group Says Expected To Record A Loss For Year Ended 31 December 2018Seven New Year's Resolutions for BitcoinersBillboard Latin Music Conference: On the ‘Magic’ of the Zumba Fitness Craze, Its Connection to Superstars Like Don OmarOutcrop Gold Confirms High Grade Gold & Silver Megapozo Target at Santa AnaWatch Shania Twain Slay Glastonbury 2024 With ‘Man! I Feel Like a Woman!’
下一篇:Biden Holds onto a Winning Margin in the Polls after the 1st Debate
- ·Halozyme Therapeutics, Inc. Just Recorded A 24% EPS Beat: Here's What Analysts Are Forecasting Next
- ·Is Rallis India Limited (NSE:RALLIS) Better Than Average At Deploying Capital?
- ·BRIEF-Avic Capital's Board Elects Lu Daen As Chairman, Appoints Zhao Hongwei As General Manager
- ·7 Bargain-Bin ETFs For Frugal Investors
- ·Maybe the Coronavirus Didn’t End the Bull Market
- ·At €3.65, Is It Time To Put Derichebourg (EPA:DBG) On Your Watch List?
- ·FOREX-Aussie, kiwi steady as dovish Fed keeps lid on dollar
- ·The 50-State Cybersecurity Class Action Is Here to Stay. How to Defend Against It!
- ·Pence will meet cruise industry officials Saturday on coronavirus
- ·Is Advance Auto Parts (AAP) Stock Outpacing Its Retail-Wholesale Peers This Year?
- ·Lady Gaga Fires Back At Donald Trump’s Campaign After They Try To Turn Her Biden Support Into A Liability
- ·Nigeria In 2019: The Investment Banking View
- ·How Does TCF Financial's (NASDAQ:TCF) P/E Compare To Its Industry, After The Share Price Drop?
- ·Survey Says: Watch Out for Attorneys With Their Lies, Expletives and Nasty Email
- ·Golden Globes’ Most Under-Dressed Stars, From Jason Sudeikis to Jodie Foster
- ·Click here to download this week's issue
- ·Is It Smart To Buy Garmin Ltd. (NASDAQ:GRMN) Before It Goes Ex-Dividend?
- ·Are N. Leventeris S.A.’s (ATH:LEBEK) Interest Costs Too High?
- ·Q&A: O'Melveny Practice Leader Covers the Sports-Betting Blitz
- ·BRIEF-Tern Properties Co Updates On Status Of Public Float
- ·TREASURIES-U.S. 10-year yield stays below 1% as coronavirus fears persist
- ·CenterPoint Energy (NYSE:CNP) Is Increasing Its Dividend To US$0.17
- ·BRIEF-Anacle Systems Group Expects To Record Net Profit For Six Months Ended Nov. 30
- ·India's buffalo meat exports to plunge amid China clampdown on illegal imports
- ·US warns 7 companies over fraudulent coronavirus claims
- ·Study finds that Vermont is top state for inbound moves
- ·German industrial order rise more than expected in October
- ·Asian stocks skid after weak China factory readings
- ·Insperity (NSP) Stock Rises 66.1% in a Year: Here's Why
- ·How Many Insiders Sold Churchill Downs Incorporated (NASDAQ:CHDN) Shares?
- ·'Big shoes to fill': UniCredit shares tumble as CEO Mustier quits
- ·Wall Street ekes out gain, Apple cuts revenue forecast after the bell
- ·Thousands march in Hong Kong against China repression after grim 2018
- ·Dollar steady with eyes on Fed for rate clues; kiwi higher
- ·Huawei confident it will supply core network technology to European operators
- ·AMG or BX: Which Is the Better Value Stock Right Now?