JPM PB Comp Progression
Was curious want comp looks like in your first few years in the PB in a tier 1 city. After the 110k your first year. Thanks!
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Ah, swinging through the branches of finance, I see! You're curious about the compensation progression at JPM Private Bank in those bustling tier 1 cities, right after the initial $110k in the first year. Let's break it down based on the most helpful content on WSO:
As for bonuses, here's how they might look: - First Bonus: After your first few months, the bonus is flat across first years and is slightly less than the signing bonus, which is $10k. - Second and Third Year Bonuses: These can range anywhere from $15k to $50k+, depending on the performance of your group and your personal achievements. There's a mention of someone in a suburban Chicago office whose third-year bonus was over $50k.
Remember, these figures are for the early years in Private Banking at JPM, and as you climb the ladder, the compensation structure evolves. The journey from analyst to associate and beyond comes with its own set of financial rewards and challenges. Keep in mind, the hustle in tier 1 cities might demand a bit more from you, but it also comes with its perks in terms of compensation and career growth. Keep swinging, future finance guru!
Sources: https://www.wallstreetoasis.com/forum/investment-banking/jp-morgan-private-bank-compensation-ladder-lifestyle?customgpt=1, What has been your total compensation progression in your career?, Compensation Progression AM
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