JPMorgan traders are set to see higher bonuses this year after the bank killed it in equities

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JPMorgan bankers are set for improved bonuses after the bank’s performance in 2018 boosted annual compensation for its staff.

On average, employees will see percentage gains in the mid-single digits versus bonuses received last year, a person familiar with the matter told Business Insider. Equity traders and investment bankers are set to get a bigger share than their counterparts in the fixed-income unit, the person said. Wall Street bankers make healthy base salaries, but the annual bonus is where the industry’s best earn their fortunes.

JPMorgan is expected to start announcing bonuses on Wednesday and continue for a couple of days. The bonuses get paid out at the end of January, depending on where the employee is based.

JPMorgan’s stock traders led a 22% gain in revenue in the first nine months of 2018 compared with the same period in 2017, to $5.5 billion, Bloomberg reported, citing its own data. Revenue from investment banking increased by 2.5%.

And JPMorgan is topping peers across several divisions — Coalition data compiled in the first half of the year found the bank tied for No. 1 in its global league tables for equities and snagging the top ranking in investment banking and fixed income, currencies, and commodities.

Read more: Goldman Sachs’ 1MDB problems are eating into employee morale, and insiders worry the firm will use its legal woes as an excuse to scrimp on bonuses

A representative at the bank declined to comment.

December’s stock market wipeout — the worst December since the Great Depression— may have taken a hatchet to some bonus pools. Dealogic data through December 31 signals that investment-banking fees were down 6% across the industry in the fourth quarter versus the third quarter and dropped 13% compared with the fourth quarter of 2017.

Research by Johnson Associates previously suggested that mergers-and-acquisitions bankers were likely to see their compensation cut by about 5%, Bloomberg said.

Reuters had earlier reported that JPMorgan Chase, the bank’s retail arm, would increase the pool for employee bonuses by 3% overall for 2018.

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