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- JPMorgan spent $11.4 billion on technology in 2019, according to a UBS study.
- Business Insider analyzed the US Office of Foreign Labor Certification’s 2020 disclosure data for permanent and temporary foreign workers for technology employees at JPMorgan Chase.
- Associate developers and engineers made upwards of $109,000 in base salary, according to the data, with vice presidents in both fields can make over $140,000.
- Visit Business Insider’s homepage for more stories.
Wall Street and technology are deeply intertwined. Every executive on the Street understands the importance of tech and the value it can provide his or her firm, whether it’s streamlining manual processes or helping to uncover new investment opportunities.
JPMorgan Chase is no exception to the rule. In 2019, the bank spent $11.4 billion on technology, according to a report from UBS — ranking it No. 1 among banks by spend.
But that type of spend isn’t just for databases or servers. The war over tech talent has increased significantly over the years. Big tech companies, hedge funds, and startups are all in search of strong developers and engineers.
Business Insider analyzed the US Office of Foreign Labor Certification’s 2020 disclosure data for permanent and temporary foreign workers to see how much JPMorgan Chase pays its technology employees, specifically developers and engineers. The data only includes base pay, not bonuses, which can be substantial on Wall Street.
JPMorgan is no stranger to sourcing talent outside the US. Among the six big US banks, JPMorgan had the highest total number of H-1B visas approved in 2019.
The salary data analyzed by Business Insider is based on jobs in the US. Data collected includes roles across 11 states and Washington D.C., with the majority for jobs based in New York, New Jersey, California, Delaware, Ohio, and Texas.
Salary data for specific roles was either an average of multiple employees with the same title or a single individual. Some of the data included a range as opposed to a specific salary.
A spokesperson for JPMorgan declined to comment.
Blockchain: Associate engineers
Associate, software engineering, QA/Test automation: $94,000.00
Associate, infrastructure engineering: $105,553.71
Associate, software engineering, ETL Informatica developer: $107,000.00
Associate, software engineering: $113,485.69 to $127,500
Associate, big data software engineer: $140,000.00
Associate, Java software engineer: $140,000.00
Site reliability engineer, associate: $136,666.67 to $170,000
Associate, full-stack engineer: $150,000.00
Associate, AI full-stack engineer: $180,000.00
Cloud software engineer: $110,000.00
JAVA software engineer: $120,000.00
Software engineer: $121,302.65 to $200,000
DevOps engineer: $130,000.00
Devops software automation engineer: $130,400.00
Software engineer, AI platform: $150,000.00
Site reliability engineer: $157,500.00 to $170,000
JAVA/J2EE software engineer: $180,000.00
Full-stack software engineer: $180,000.00
Blockchain: Senior engineers
Senior software engineer: $138,125.00
Software engineering lead: $160,000.00
Senior Python engineer: $155,000.00
Senior data platform engineer: $150,000.00
AI platform senior cloud engineer: $210,000.00
Senior application security engineer: $220,000.00
Senior software engineer, internal tools: $225,000.00
Blockchain: VP/manager/director engineers
VP, infrastructure engineering: $138,975.00
VP, software engineering: $144,161.41 to $163,750
VP, solutions engineering lead: $150,000.00
VP, software engineer/system architect: $155,000.00 to $165,000.00
VP, senior virtualization engineer: $155,000.00
VP, lead software engineer: $180,000.00
VP, product manager blockchain engineering team: $190,000.00
VP, software engineer Java full stack: $190,000.00
Executive director, software engineering: $190,000.00
VP, senior software engineer, cloud team: $250,000.00
Senior software engineering manager: $310,000.00
Blockchain: Associate developers
Associate, infrastructure Python developer: $85,000.00
Associate, Java application developer: $86,000.00
Associate, software development: $108,300.00
Associate, application developer: $111,688.39
Associate, infrastructure developer: $125,000
Full-stack developer: $103,000.00
Application developer: $105,000.00
Actimize developer: $126,000.00
Applications developer lead: $134,000.00
Blockchain: VP developers
VP, software lead developer: $115,500.00
VP, IT development team: $123,300.00
VP, senior Essbase developer: $133,000.00
VP, lead applications developer: $135,000
VP, senior application developer: $140,000.00
VP, infrastructure development: $141,800
VP, application development lead: $143,900.00 to $160,000