Citigroup said on Friday its CEO Michael Corbat will get a 4.35% raise, bringing his total compensation for 2018 to $24 million.

Reuters reports that Corbat’s total compensation included a base salary of $1.5m plus cash bonuses of about $6.75m, equity awards of nearly $7.88m, and a long-term performance based pay worth $7.88m.

Members of the board said they considered the bank’s earning operating performance, and market levels of pay when deciding his compensation.

A year earlier, Corbat enjoyed a 48% raise for a total annual compensation of $23m as the bank grew adjusted profit by 4%.

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Citigroup CEO gets $24 million as compensation in 2018

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