JPMorgan Banker Pay Beats Goldman Sachs as Europeans Trail
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JPMorgan Chase & Co. was the top payer among investment banks last year, awarding its senior employees a fifth more than Goldman Sachs Group Inc., according to a report that also highlights a growing divide between firms based in the U.S. and Europe.
Managing directors in JPMorgan’s mergers advisory and underwriting teams earned an average of 1.1 million pounds ($1.7 million) in total compensation for 2012, according to Emolument, a London-based salary data provider. Morgan Stanley was the second-highest payer, with an average award of 903,000 pounds, followed by Goldman Sachs at 873,000 pounds.