According to Dealbreaker the take-away here is put in for that transfer to Brazil? From the front lines:
Associates:
Base salary going down for all:
Associate 1: 120k / year (down from 125k)
Associate 2: 140k / year (down from 150k)
Bonus are still coming in but overall not good. Top Analysts 2 and 3 from last year received higher cash bonuses than several Associates 1 this time around. Associates 1 get 20% of bonus in stock for starters, % increases with seniority. Stock component schedule: 0% year 1, 50% year 2, 50% year 3.
VPs and above:
Supposedly base salary is frozen. For example, a VP1 becoming a VP2 will keep the same VP1 base salary from last year, indefinitely.
Also rumored that Brazil I-banking at JPM keeps getting paid the most (still less than local competition, but significantly higher than NY. Realistic bonus expectation of at least 2x as much as NY, plus same base salary).
Want more? Go to http://dealbreaker.com/2012/01/bonus-watch-12-jpmorgan-2/#more-64170
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