JPMorgan Chase may have smashed analysts expectations when it released its Q1 earnings results today, but Bloomberg News points out that the investment bank compensation pool has declined in the quarter.From Bloomberg (emphasis added):
JPMorgan Chase & Co. (JPM)’s investment bank set aside $2.9 billion for employee compensation in the first quarter, 12 per cent less than a year earlier, as revenue slipped 11 per cent.
The expense, which includes salaries, bonuses and benefits, was enough to give each of the division’s 25,707 employees an average of $112,849 for their work in the first three months of this year, according to figures posted today on the New York- based company’s website. The unit set aside $3.29 billion to pay traders, dealmakers and other personnel, or $124,330 for each of the 26,494 people on staff, in 2011’s first quarter.
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