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JPMorgan engineering pay 2024: You might want to become an engineering manager

We recently broke down how engineers are paid at Goldman Sachs. Looking at JPMorgan, there are some interesting similarities and some big differences. Using Levels.fyi, we've averaged total compensation (TC) at JPMorgan, broken down by both seniority and location.

How much are engineering analysts, associates and VPs paid at JPMorgan?

Compared to Goldman Sachs, JPMorgan's average TC for engineers at most levels is lower, though there may be a reason for this.  - JPMorgan has done a lot of hiring in lower cost locations, like Texas.

Evidently, JPMorgan values management skills in its technologists. Vice presidents (VPs) in engineering at the bank earn $191k, but engineering managers of the same seniority earn over $70k more. 

One engineering management VP based in Palo Alto, California reported a TC of $400k in January, consisting of a $200k salary and $200k bonus. 

Software engineer EDs at JPMorgan since January 2023 averaged a TC of $362.2k, while engineering managers earned $420.3k. Becoming a manager can be a poisoned chalice, however, as engineering managers in finance have reported issues finding another job afterward.

Where does Goldman Sachs pay its engineers the most?

If you think New York is the prime destination for JPMorgan engineers, think again. The bank's highest paying location on average (with enough datapoints) is San Francisco, paying over $200k on average. JPMorgan has historically put some of its most exciting AI jobs in California, which might explain this.

London developers are paid highly at JPMorgan. Technologists in the English capital earn more on average than those at many of JPMorgan's other US offices, including Dallas and Chicago.

JPMorgan's lower cost locations tend to vary. Its Bengaluru office in India pays significantly less on average compared to Goldman Sachs, $33.6k to Goldman's $46.6k. In Glasgow, its lower cost UK office, pay is pretty good; it averages $83.2k while Goldman pays its Birmingham contingent $66.5k.

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AUTHORAlex McMurray Editor

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