, Chariman and Chief Executive Office of JPMorgan Chase & Co. (JPM), received $23 million between bonuses and salary for 2011. This is the same Jamie Dimon played by Bill Pullman in HBO’s financial crisis drama, Too Big To Fail.
With a base salary of $1.5 million from the start of March 2011, $17 million in restricted stock and options, and a $4.5 million cash bonus, Dimon made out like a bandit while the economy wavered in 2011. His 2010 pay package was roughly the same amount.
Fifty-six year old Dimon’s restricted shares were valued by a proxy at $12 million and his options an additional $5 million.
Dimon’s earnings over recent years have ranked him amongst the most well paid bankers across the nation. Brian T. Moynihan, CEO of Bank of America Corp. which is the second largest lender by assets in the United States, received only $7 million in total paid compensation after taking a 30% pay cut. Vikram Pandit, CEO of Citigroup Inc. which is the third largest lender in the nation, received $14.9 million, leaving him more than a little shy of Jamie Dimon’s $23 million.
JPMorgan performed incredibly well in 2011 as they capped their second straight year of record profit, bringing in $19 billion in net income. J.P. Morgan was founded in 1871 by American financier and banker John Pierpont Morgan. Today, the company has become the investment banking arm of JPMorgan Chase.
James “Jamie” Dimon was born March 13, 1956 and is the president, chief executive, and chairman of JP Morgan Chase. He served on the New York Federal Reserve’s Board of Directors. Dimon has been included in Time magazine’s list of the world’s 100 most influential people on numerous occasions.
What are your thoughts on Dimon’s $23 million pay package?
CNBC Interview With Jamie Dimon Video: