Top firm execs get more in fixed-cash salaries and less bonuses

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Daniel Pinto earned a higher salary last year than his boss, CEO Jamie Dimon, according to JPMorgan.

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.

To access the complete Bloomberg News article hit the link below:

JPMorgan Salary Package Grows as Pay Limits Are Thwarted

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