The recession is officially over for Jamie Dimon.
The JPMorgan Chase (JPM) CEO just got a $17 million stock bonus for 2010. That is the richest reward for a Wall Street chief so far this bonus season and pushes Dimon's pay back toward the levels that prevailed before the financial meltdown of 2008.
The big payday comes after the bank posted a 48% profit gain for the past year. Investors are now waiting for JPMorgan to MOREColin Barr - Feb 18, 2011 10:09 AM ET
America's favorite bankers have outdone themselves yet again.
How might you compensate management for a year in which profits plunged, you spent $550 million of shareholder money to settle a fraud investigation and your stock ended up more or less exactly where it started (see chart, right)?
You might be tempted to nix raises or withhold bonuses to send a responsible message about linking pay to performance. But if so, you wouldn't MOREColin Barr - Jan 30, 2011 8:25 AM ET
A trading slowdown at Goldman Sachs is hitting the firm's employees where it counts.
The average paycheck at Goldman (GS) tumbled 14% from a year ago to $430,700, according to numbers released Wednesday by the firm in its fourth-quarter earnings release.
The decline is in line with the 13% drop in 2010 revenue at Goldman. Its top line tumbled to $39.2 billion from $45.2 billion a year earlier, as market-making income plunged MOREColin Barr - Jan 19, 2011 9:47 AM ET
The days of the $500,000 average paycheck are long gone, even at Wall Street's most gilded firm.
So predicts a report issued Thursday by Credit Suisse analyst Howard Chen. He slashed his fourth-quarter earnings estimate on Goldman Sachs (GS) to $3.70 a share from $5.08, citing its latest soft trading quarter and higher non-compensation expenses.
"Due to persisting choppy market conditions and our expectations for a weaker finish to 2010 MOREColin Barr - Dec 30, 2010 11:52 AM ET
It's that time of year again -- time for holiday cheer, gift-giving, and bonus checks. Unless you're a banker in Ireland.
At a time when big bonuses on Wall Street are once again expected to be plentiful, Ireland is reining in on bankers' bonuses as it deals with shoddy finances that nearly bankrupt the country.
Earlier this week, Allied Irish Bank (AIB), the lender that is being bailed out by the Irish MORENin-Hai Tseng, Writer - Dec 17, 2010 11:23 AM ET
Bonus rage is back.
Elizabeth Warren (right), the White House adviser behind the Consumer Financial Protection Bureau, lashed out at the disparity between rising Wall Street pay and the deteriorating finances of the average American.
She said the pay gap shows "we still have a problem" with out of control compensation during an anemic recovery, Bloomberg reported. She made the comments in an interview for Bloomberg Television that will be broadcast this MOREColin Barr - Dec 10, 2010 12:23 PM ET
Morgan Stanley just lost an arbitration case to two guys who make your typical pushy Wall Streeter look like Joan of Arc.
The brokers are Julian Tzolov and Eric Butler. They came to minor fame two years ago, when the Securities and Exchange Commission sued them for ripping off their customers to the tune of $1 billion in a subprime bait-and-switch scheme.
Since then, Tzolov pleaded guilty to securities fraud and is MOREColin Barr - Aug 11, 2010 4:10 PM ET
Even at Goldman Sachs, the bonus pool no longer looks bottomless.
Wall Street's most gilded firm reported a big drop in second-quarter earnings Tuesday. The trading frenzy that fueled Goldman's profit rebound last year slowed sharply in the quarter ended last month, as investors stepped back from a turbulent market.
But Goldman's bottom line isn't the only number that took a hit. Goldman's bonus pool shrank as well -- though it's worth MOREColin Barr - Jul 20, 2010 10:13 AM ET
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