Why Jamie Dimon's Pay Went Up 250% This Year & Yours Didn't (JPM, GS, MS, BAC, C)

J.P. Morgan reported better than expected earnings this morning, and it's good to be Jamie Dimon this morning. First quarter profit rose 67% from a year ago, as the company reported earnings of $1.28 per share on revenues of $25.2 billion. Wall Street expected earnings of $1.15 per share on $25.27 billion in revenues. The company reduced credit card reserves by $2 billion, which led to the increase in profits. Real estate continued to be a drag on the New York-based investment bank, as the bank increased reserves for this by $1.1 billion. J.P. Morgan is the first bank to report results, and investors and traders may want to consider initiating positions in the other banks, such as Goldman Sachs GS Morgan Stanley MS and Citigroup C. The company also reinstated its quarterly dividend, and increased it to 25 cents per share, and set its buyback program at $15 billion, of which $8 billion is scheduled for this year. "The firm's results reflected a strong quarter across the investment bank and solid performance from card services, commercial banking, treasury & securities services, and asset management," Dimon said. Commenting on the balance sheet, Dimon said, “We strengthened our fortress balance sheet, ending the first quarter with a strong Tier 1 Common ratio of 10.0%. Looking forward, we intend to operate the business with the objectives of maintaining a Basel I Tier 1 Common ratio of at least 9.0% and meeting the Basel III requirements substantially ahead of time. Our earnings power will allow us to generate significant capital in excess of our objectives, enabling us to invest aggressively in our future. It's easy to see why Jamie Dimon's pay shot up in 2010, as J.P. Morgan continues to fire on all cylinders. Perhaps it's time to add Jamie and J.P. Morgan to your portfolio. You could do a lot worse.