JPMorgan Chase stated Thursday that long-serving CEO Jamie Dimon’s 2024 pay bundle climbed about 8.3% to $39 million after the financial institution posted a file revenue amid a revival in dealmaking and fundraising actions.
His compensation included a base wage of $1.5 million and $37.5 million in incentives.
JPMorgan’s revenue rose to a file excessive in 2024 as its dealmakers and merchants reaped a windfall from rebounding markets within the fourth quarter.
The pinnacle of the biggest US lender was paid $36 million for 2023 after $34.5 million each in 2021 and 2022 towards a backdrop of financial uncertainty, geopolitical tensions and the lingering results of the COVID-19 pandemic.
Among the different senior executives on the financial institution additionally noticed their compensation rising by between 4% and 21% in 2024.
Dimon’s pay was on par with Goldman Sachs CEO David Solomon, who additionally earned $39 million in 2024.
Dimon, an influential CEO whose 19-year tenure stretches nicely past his friends, has stated that he’s more likely to step down in lower than 5 years.
The board has recognized candidates to take over after Dimon. The contenders to succeed him embody Marianne Lake, CEO of shopper and group banking, Troy Rohrbaugh, co-head of the industrial and funding financial institution and Mary Erdoes, CEO of asset and wealth administration.
Jennifer Piepszak, one other senior government, has taken herself out of the CEO race for now, the financial institution stated this month.
