Chase bonuses will be at the top of the list of things to do in the coming year, with the bank expected to offer $1.4 trillion in bonuses.
The bank will announce more details at its quarterly earnings call, which begins at 2 p.m.
ET Tuesday, Bloomberg reported, citing a person familiar with the matter.
The person said Chase expects to offer a total of $1,500 for every $1 invested in its portfolio.
The Bank of America, the country’s biggest bank, is also expected to announce bonuses of $600 billion.
It was not immediately clear if other banks were expected to increase their bonuses, but the Bank of New York Mellon, Bank of the West, and the JPMorgan Chase & Smith Banking Group are expected to join the list.
The new bonuses will represent about 15% of the bank’s overall base salary of $4.8 trillion.
While the bank is offering bonus checks for most employees, it is expected that it will give bonuses to some executives, according to the person familiar.
Chase bonuses are not tied to performance, and it is possible that a bank may not make as many as promised.
The amount of the bonus will depend on the size of the customer base, the bank and the CEO’s performance.
It is possible, the person said, that some executives may not receive as much as they expected and be asked to give less.
Chase’s bank bonuses are part of a broader effort by the bank to improve its balance sheet, as it strives to increase earnings per share and improve its profitability.
The company will be the first major U.S. bank to announce quarterly bonuses in the past six years, following Bank of Ameritrade, Bank Of New York, BankOfAmerica, and JPMorgan Chase.