[ by Melanie Gretchen ] Morgan Stanley CEO James Gorman took a 25% cut in total compensation for 2011, as compared to his take home in 2010.  However, it's a sure bet that he's happy with the generous compensation package, given the fact that his firm's stock price declined 44% over the year. Gorman's 2011 compensation included $5 million in restricted shares and nearly $2 million in shares tied to MS's performance.  He also received a base salary of $800O and a deferred cash bonus of $2.7 million. In its regulatory filing, Morgan Stanley disclosed that the pay of Mr. Gorman's top deputies were, as follows:  CFO Ruth Porat was awarded compensation valued at nearly $8.8mn for 2011;  Wealth Management chief Gregory Fleming, along with Colm Kelleher and Paul Taubman all received an annual pay package of about $9.3mn. Rebuilding the Bank. Under Mr. Gorman's leadership since 2010, Morgan Stanley - which was badly shaken during the credit crisis - has tempered its risk profile and expanded its footprint in wealth management. Unfortunately, Moody’s Investor Service recently threatened to downgrade the bank’s debt rating, which would drive borrowing costs up and sink its status in areas like derivatives trading.  Moody's will make a final decision in May. You won't hear any complaints from MS senior management over what they earned for 2011.  A career in banking can still be quite lucrative - even if shareholders end up being the biggest losers. For further information, go to [Dealbook, 4/5/12].