The impressive salary received by the most powerful banker in the United States
Details Published: Monday 22 January 2024 09:27 Written by the editorial staff
Jamie Dimon, the current chairman and CEO of JP Morgan Chase & Co., the world’s largest bank by market capitalization, received his highest annual compensation to date.
Dimon received an annual salary of $36 million in 2023, 4.3% more than in 2022.
Compensation includes an annual base salary of $1.5 million and performance-based variable pay of $34.5 million.
Of the variable portion, the bank specified that $5 million will be paid in cash, while the remainder will be delivered in performance-related shares.
“Annual compensation for 2023 reflects Mr. Dimon’s stewardship of the company, with growth across all of its market-leading business lines, record financial results and a strong balance sheet,” the council wrote in the letter. “Additionally, the company successfully navigated and supported its customers through the regional banking turmoil and completed the acquisition of First Republic,” He added.
Dimon’s leadership, for which he was pleasantly rewarded, was reflected in the strong financial results for 2023, reported late last week.
First, the company reported revenue of $162.4 billion, which translates to an annual increase of 23%. In turn, it reported a net profit of $49.6 billion, which represents a 32% increase from the previous year.
On the other hand, over the last year, JP Morgan shares have appreciated by around 30%, bringing the company’s value to $491 billion.
2024-01-22 15:28:08
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