For 2013, Dimon was awarded a 74-percent pay raise to $20 million by the bank's board even as it grappled with billions in penalties and settlements.
"Jamie Dimon got a raise after he negotiated $17 billion to pay for activities that were illegal that he presided over. So I'm not quite sure how this is a deterrent for other CEOs," Warren said during a Senate Banking Committee hearing.
During the year, JPMorgan's stock surged nearly 31 percent, slightly outpacing the rise in the S&P 500.
-Written by CNBC's Katie Little. Reported by CNBC's Eamon Javers