Wednesday, March 26, 2008

JPMorgan woos Bear private client brokers with big bonus offers

Read about this news from the web

"JPMorgan is offering Bear Stearns' best brokers annual bonuses of more than $500,000 (€320,298) in an effort to prevent an exodus of talent as a result of its planned takeover of the stricken investment bank, according to a report in the Financial Times.
Sources said JPMorgan, which on Monday raised its all-stock bid to buy Bear from $2 to $10 per share, told the firm's 400-plus private client brokers that those bringing in more than $500,000 in revenues would receive a bonus of up to 100% of the total revenue they generated.
Three-quarters of the bonuses will be paid in cash and a quarter in JPMorgan shares. Brokers generating between $250,000 and $500,000 a year will receive 50% of their total, half in cash and half in stock, while brokers bringing in less than $250,000 will not get a bonus. "

Amazingly that JPMorgan is retaining the top talent from Bear with expectation of at least 250K revenue per year. No wonder broker is among those jobs that can allow you to retire early without worries. What other jobs will have this kind of benefits?

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