It's not just the little people who will suffer this year-end when it comes to comp payouts. Employees will be glad to know that some of the big beasts will share in their pain.
The Wall Street Journal reports that JPMorgan Chase's board is trying to work out how to penalize CEO Jamie Dimon and other executives for that $5.8bn trading loss announced earlier this year at the CIO Office in London. The newspaper says, though, that the board 'are grappling with the question of how to do that without drastically reducing the executives' take-home pay' (a kind of punishment with no consequences ?!).
The newspaper also reports that Citi CEO Vikram Pandit is likely to get a tougher time of it on the comp front this year too, as the company's board figures out how to appease shareholders who, last April, voted down a non-binding proposal on executive pay structures.