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JPMorgan CEO Got 1,500% Raise
JPMorgan Chase gave its chief executive, Jamie Dimon, a substantial raise in 2010 over the $1.3 million he was paid in 2009. This was disclosed Thursday afternoon in a regulatory filing. Mr. Dimon’s remuneration included a $5mn cash bonus (none was paid in 2009), $14.2mn in restricted stock and options awarded in 2010, plus $1mn in salary.
By comparison - though we're somewhat reticent about saying this - Goldman Sachs CEO Lloyd Blankfein received total compensation in 2010 of "only $19 million - which included a $5.4mn cash bonus.
In its filing with the SEC, JPMorgan noted that its calculation of Mr. Dimon’s 2010 compensation did not include the $17mn in restricted stock and options that Mr. Dimon was awarded in this past February - for his performance last year.
The jump in Mr. Dimon’s compensation came in a year in which JPMorgan’s annual earnings jumped 48%, to $17.4 billion.
FYI, Mr. Dimon earned $35.8mn in 2008. [Dealbook, 4/7]
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