US banks set to slash bonuses
The US bank results season, which kicks off with JP Morgan Chase's full-year figures on Friday, could see bonuses slashed by up to a quarter after poor trading late last year.
A leading Wall Street analyst said: "Every bulge bracket firm will be paying lower bonuses per employee versus last year. I would say bonuses could be 15-to-25 per cent down."
The JP Morgan boss, Jamie Dimon, had already reduced the investment banking arm's compensation, which includes salaries and bonuses, by 2 per cent over the first three-quarters of 2011. But this meant the division's 26,615 employees were still paid nearly $290,000 each.
Edward Najarian, banking analyst at ISI Group, said: "Big regional banks should do well, either meeting or exceeding consensus expectations. Global trading and investment banking businesses will see fairly weak results in terms of trading."
Diving in at the deep end is no excuse for shirking the style stakes
- 1 Why I'm on the brink of burning my Israeli passport
- 2 Comfortable in their own skin
- 3 Japanese plant experts produce 10,000 lettuce heads a day in LED-lit indoor farm
- 4 War is war: Why I stand with Israel
- 5 L'Oreal cuts ties with Belgium supporter Axelle Despiegelaere after hunting trip photographs
Israel-Gaza conflict: Death toll tops 125 after overnight raids as Operation Protective Edge continues
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Ian Thorpe gay: Olympic swimmer comes out in Parkinson interview
Supermoon 2014: When and why will the moon look bigger and brighter this summer?
Gaza-Israel conflict: Pro-Palestinian demonstrators take to streets of London, Paris and New York in wave of protests
Sustained immigration has not harmed Britons' employment, say government advisers
War is war: Why I stand with Israel
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Australia facing international condemnation after turning around Sri Lankans at sea
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
iJobs Money & Business
£70000 per annum: Harrington Starr: Information Security Manager (ISO 27001, A...
£75000 - £85000 per annum + ex bens: Deerfoot IT Resources Limited: Biztalk Te...
£60000 per annum: Harrington Starr: Trade Desk Specialist (FIX, Linux, Windows...
£35000 per annum: Harrington Starr: Service Desk Analyst (Windows, Active Dire...