JPMorgan Lifts CEO Jamie Dimon's Pay to $36M for 2023
What You Need to Know
The bank had a record profit of $49.6 billion last year, boosted by interest rate hikes and its purchase of First Republic Bank.
His total pay is up 4.3% from 2022, when he made $34.5 million.
The firm awarded $30 million to President Daniel Pinto and $27 million to asset and wealth management chief Mary Erdoes.
JPMorgan Chase & Co. raised Chief Executive Officer Jamie Dimon’s pay to $36 million for 2023, a year in which the bank notched the highest profit in the history of American banking.
The board granted Dimon a $1.5 million salary and $34.5 million of performance-based incentive compensation, according to a regulatory filing Thursday.
His total pay is up 4.3% from 2022, when he made $34.5 million.
“The firm is in a uniquely fortunate position to be led by such a highly talented and experienced executive who continues to grow the company, maintain market leadership positions, strengthen the firm’s reputation, invest in opportunities for the future, promote diversity and best practices, manage risk and develop great leaders, while also maintaining his focus on the firm’s clients,” the board said in the filing.
JPMorgan pulled in $49.6 billion last year, boosted by the Federal Reserve’s interest rate hikes and its purchase of First Republic Bank in a government-led auction. Shares rose 27% during the year, outperforming all major rivals.
Other Pay Hikes
That’s now turning into raises of more than 5% for the bank’s top brass.
The firm awarded $30 million to President Daniel Pinto, $27 million to longtime asset and wealth management chief Mary Erdoes and $18.5 million apiece to consumer-banking co-heads Jennifer Piepszak and Marianne Lake, according to the company.
