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  "documentTitle": "BlackRock | Investor Conference Presentation Deck | 20 slides",
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  "presentationDate": "2021-12-01 00:00:00",
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  "notes": "The slide uses a stacked bar chart to show the composition of compensation expenses over time, alongside qualitative drivers.",
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      "kind": "chart",
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      "text": "Note: Compensation, as adjusted and Net Revenue are non-GAAP measures. For further information and reconciliation between GAAP and as adjusted operating margin, see the previously filed Form 10-Ks, 10-Qs, 8-Ks and the presentation appendix on slides 17-18. For footnoted information, refer to slides 14-15",
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      "text": "Operating leverage from scale and expense discipline: Technology and automation, Role optimization, Re-footprinting roles to iHubs, Incentive compensation aligned with shareholder interests",
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      "text": "Growth in performance-based compensation: Momentum in alternatives, Significant deferrals, BPIP outperforming",
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