How much can you expect to earn as a salesperson or trader working for JPMorgan Securities Plc in London? Newly released annual accounts for the entity for 2020 suggest that pay tends to both generous and remarkably fairly stable from year-to-year.
In 2020, JPMorgan Securities employed 2,295 people in London and paid them each an average salary of $418k and an average bonus of $154k.
Average total compensation at the entity, which houses JPMorgan’s London-based sales and trading operations, was therefore $573k for 2020. This was similar to the previous year, when average compensation at JPMorgan Securities in London was $575k.
Stable pay for JPM London salespeople and traders reflects stable profits, at roughly $2bn for both 2019 and 2020. Revenues in the London sales and trading business rose by just 8% last year, compared to a 28% increase in JPM’s sales and trading revenues globally.
JPMorgan doesn’t divulge how much it pays its salespeople and traders on average globally. However, the bank is compelled to release data on average compensation for material risk-takers (typically managing directors and senior traders) at its UK business. In 2019, average total compensation for material risk-takers at JPMorgan UK was $1.4m.
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