'feels Like A Slap In The Face': Some Jpmorgan Employees Reportedly Aren't Happy With Their Bonuses

JPMorgan Chase CEO Jamie Dimon received a afloat compensation of $39 cardinal successful 2024, nan astir he's ever made, nan slope reported connected Thursday. However, immoderate of his workers are unhappy pinch their caller bonuses.

According to Fortune, JPMorgan managers began telling nan bank's overmuch than 300,000 world labor really overmuch they earned successful 2024 bonuses connected Tuesday and Wednesday of this week. The slope is expected to net U.S. labour nan different money adjacent week connected January 28. Annual bonuses connected Wall Street personification a agelong history, making emotion backmost to nan 20th period erstwhile J.P. Morgan himself pioneered nan judge by giving his labour a one-time complaint gift adjacent to a year's salary. According to figures from nan New York State Comptroller, seen by nan NYPost, nan mean Wall Street prize successful 2023 was $176,500.

The 5 U.S.-based JPMorgan labour who said to Fortune indicated that they were disappointed pinch their bonuses, though immoderate tried to look connected nan affirmative broadside and said they were grateful that their numbers weren't lower. These employees, who worked successful divisions different than finance banking (like commercialized banking and positive and wealthiness management), received raises ranging from 2% to 2.7%—far small than nan 15% raise successful bonuses reportedly received by JPMorgan finance bankers.

Related: JPMorgan Chase CEO Jamie Dimon Isn't Worried About AI Taking Over Jobs — Here's Why

JPMorgan reported its 4th 4th 2024 financial results earlier this play and stated that nett income for nan 4th was $14 billion, up 50% from nan aforesaid clip past year, while nett gross was $43.7 billion, up 10%.

The slope posted a record-high full-year 2024 nett income of $58.5 billion.

All of nan labour who said pinch Fortune were alert of nan bank's caller grounds performance, pinch 1 worker stating that they felt "disrespected and undervalued."

One JPMorgan worker told Fortune that they recovered retired connected Wednesday that their prize only accrued by $3,000 from past year, for a 2% raise. They took nan remainder of nan clip disconnected from work—so they wouldn't opportunity point antagonistic astir it.

A different worker said they received outstanding reviews past twelvemonth yet earned a likewise debased raise.

"It conscionable feels for illustration a slap successful nan face," they said.

Other labour complained of receiving smaller bonuses than past year.

Related: JPMorgan Chase CEO Jamie Dimon Wants People to 'Stop Talking' About AI: 'It'll Help You Do Your Job Better'

Meanwhile, JPMorgan informed its unit earlier this play that it is implementing a strict return-to-office (RTO) instruction successful March wherever almost each workers will beryllium required to activity from nan agency 5 days per week, shifting schedules for nan 40% of workers who were connected a hybrid schedule.

The announcement sparked psyche pushback connected an psyche institution website. More than 300 JPMorgan labour voiced concerns astir really nan RTO instruction would effect their commute, work-life balance, and childcare costs, prompting JPMorgan to unopen down comments astir nan topic.

Related: JPMorgan Says Its AI Cash Flow Software Cut Human Work By Almost 90%

The RTO mandate, coupled pinch nan precocious debased bonuses, has led immoderate labour to estimate that JPMorgan wants to trim nan number of group successful its workforce, per Fortune.

According to a July study from Bamboo HR, astir a 4th of C-Suite executives hoped that strict return-to-office policies would root labour to quit. Bamboo HR called this conception "layoffs successful disguise."