JP摩根今年或为银行家涨薪34%

    摩根大通(JPMorgan Chase)旗下的投行子公司JP摩根(J.P. Morgan)今年可能为银行家们涨薪34%，如果该行能保持一季度的发钱速度的话。

    今年一季度，JP摩根共拨出33亿美元用于26,494名员工的薪酬支出，即当季人均薪酬达124,330美元，简单换算可知全年或至497,320美元。

    而去年JP摩根的员工人均薪酬约为370,000美元。这样的薪酬绝对不低，但比不上去年投行界薪酬最高的高盛(Goldman)和德意志银行(Deutsche Bank)，后两家公司的人均薪酬分别达到了431,000美元和514,000美元。为了留住宝贵人才，投行们只能上调薪酬水平。

    当然，一季度薪酬大幅增加并不能确保银行家们会获得大幅涨薪。与其竞争对手类似，摩根大通表示，计划将今年投行业务收入的35- 40%用于员工薪酬。今年第一季度处于区间的高端，而去年处于低端，因此若只是简单地将一季度薪酬乘以4，得到的数据可能具有误导性。

    还有一个季节性因素需要考虑：去年，一季度的投行业务收入比其他任何季度都高出了整整20亿美元。如果这样的情况重现，全年人均薪酬最终可能更接近400,000美元，而非500,000美元。

    而且，JP摩根大幅提高薪酬，是在一季度为美国电话电报公司(AT&T)收购T-Mobile的交易提供一大笔过桥贷款（bridge loan）之后。Dealogic的数据显示，根据一季度公布的全球并购交易和投行业务收入，JP摩根在业内都排名第一。

    不过，一季度的财务状况并非很好。事实上，投行业务收入较上年同期减少1%，利润下降4%。净资产回报率或令人刮目相看，达到24%，但也低于去年的25%。

    事情就是这样。华尔街上总是不乏高薪酬。但业绩可不一定出色。

    Bankers at J.P. Morgan, the investment banking unit of JPMorgan Chase (JPM), are in line for a 34% raise this year, if the bank keeps paying at its torrid first-quarter clip.

    The investment bank set aside $3.3 billion for compensating its 26,494 workers in the first quarter. That's equivalent to $124,330 for the quarter and projects to $497,320 for the year.

    That compares with the $370,000 or so J.P. Morgan bankers pulled down last year. That was not exactly peanuts, obviously, but it compared unfavorably to the $431,000 average at Goldman (GS) and the $514,000 at Deutsche Bank (DB), last year's king of the bonus pool. And needless to say it is absolutely imperative that the banks raise their pay so as to hold onto all their valuable talent.

    Of course, a big rise in compensation expense in the first quarter doesn't guarantee bankers will get big raises. Like its rivals, JPMorgan Chase says it aims to pay out between 35% and 40% of investment bank revenue out as compensation. This year's first quarter came in at the high end of that range, and last year's at the low end, so just multiplying the first-quarter pay accrual by four may produce a misleading result.

    There is also a seasonal factor to consider: Last year, first-quarter investment bank revenue was a full $2 billion higher than in any other period. If that repeats, average pay will likely end up closer to $400,000 than $500,000.

    And the pay surge at J.P. Morgan does come after a quarter in which it signed up AT&T (T) for a giant bridge loan enabling its acquisition of T-Mobile. J.P. Morgan ranked first in announced global merger and acquisition deals during the quarter and first in investment banking fees, according to Dealogic.

    Still, the quarter was hardly a knockout financially. Revenue at the investment bank actually fell 1% from a year ago, and profits slipped 4% from a year earlier. The bank's return on equity was an impressive-looking 24% -- impressive looking till you see last year's figure was 25%.

    So it goes. On Wall Street there is always pay. Performance, on the other hand, is strictly optional.