Bloomberg News reports that Dimon made more when factoring in bonuses and awards such as stock options in addition to his $1.5m salary.
But Pinto, the CEO of JPMorgan’s corporate and investment bank, took home a $7.4m salary, 10 times more than he did in 2013 and the highest such payment from a U.S.-based public company, according to data compiled by Bloomberg. Pinto’s raise includes a 'cash fixed allowance' while his bonus went to zero from more than $8m in 2013, the bank said in a regulatory filing.
Pinto, who works in London, and other European-based executives in the industry are getting more in fixed-cash salaries and less in bonuses after European Union policy makers tried to discourage excessive financial risk-taking by limiting performance-based rewards. In the U.S., legislators took the exact opposite tack to stem compensation by using a tax law to rein in managers’ salaries. That’s been foiled by rising performance-based pay.
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