JP Morgan Chase Gives Jamie Dimon $8.5 Million Raise

Even after a tough year for the country's largest bank

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Yuri Gripas / Reuters

How much of a pay cut will J.P. Morgan Chase chief Jamie Dimon take after a tough year for the bank? None at all, the company announced Friday.

Quite the opposite, in fact. The bank’s board agreed to pay its chairman and chief executive $20 million in 2013, the company said in a regulatory filing, or a 74 percent raise from his pay last year.

The bank paid more than $20 billion in legal settlements and posted its first quarterly loss since the financial crisis. But the board said that it considered the company’s long term performance and Dimon’s handling of the regulatory probes in determining his compensation.

Dimon will receive $18.5 million in stock in addition to his base salary.

Last year, the board cut Dimon’s pay in half – to $11.5 million – citing the massive London Whale losses that occurred under his watch.

6 comments
Hio
Hio

Rebuilding credibility & ensuring Stakeholders safety are some of the priorities. of the company that will account for the number of share holdings he is given. Just ridiculous.

StockDoc
StockDoc

Income inequality is a serious problem. The Swiss are talking about a remedy but nothing will be done soon. 

DavidC.Rynearson
DavidC.Rynearson

I would also like an 20 million dollar raise for a failed quarter. Hell I'd take an $2 raise...