Tag: Compensation

Citigroup Gives CEO 4% Pay Raise to $24 Million

Citigroup Inc. C -1.72% Chief Executive Michael Corbat received a compensation package valued at $24 million in 2018, a 4% raise from the $23 million he earned in the prior year, according to a securities filing Friday.

For the year, he earned a base salary of $1.5 million, unchanged from the prior year, and a $6.75 million cash bonus, up from the $6.45 million in 2017, according to the filing with the Securities and Exchange Commission. The rest of his pay package is made up of about $7.88 million in equity awards and a long-term performance-based pay worth $7.88 million.

In determining Mr. Corbat’s pay, Citi said it considered the steady progress it made in 2018 toward reaching its financial goals.

Are Comp Plans Too Similar?

No two companies are identical. So why should their compensation plans be?

It’s a question that’s frequently being asked by board directors and compensation consultants, especially at this time of year, leading into proxy season, as governance observers are noting an increasing convergence in plan design across the board for companies, such as a heavy reliance on performance-based pay, a movement away from stock options and the use of TSR as an incentive metric.

While sources’ views on the reason for the broad similarities across plans vary, many are questioning whether the homogenization of executive pay plans has gone too far.

JPMorgan CEO Dimon’s Compensation Tops Pre-Crisis Record

JPMorgan JPM -0.28% Chase & Co. Chief Executive James Dimon received a compensation package valued at $31 million in 2018, up 5% from $29.5 million in 2017, according to a Thursday securities filing.

The CEO earned a base salary of $1.5 million and $5 million in cash, the same as a year ago, and $24.5 million in restricted equity, according to a filing with the U.S. Securities and Exchange Commission. His pay exceeds his record compensation of $30 million in 2007 before the financial crisis.

Mr. Dimon, who has run the bank since late 2005, was the highest paid banking and finance chief executive in the S&P 500 in 2017. The median pay for the 43 banking and financial CEOs was $12.1 million, matching median pay for the S&P 500 as a whole, according to a Wall Street Journal analysis of pay data from MyLogIQ LLC.

JPMorgan’s Jamie Dimon Had $31 Million Compensation Package

JPMorgan Chase & Co. JPM, -0.28%   Chief Executive James Dimon received a compensation package valued at $31 million in 2018, up 5% from $29.5 million in 2017, according to a Thursday securities filling.

The CEO earned a base salary of $1.5 million and $5 million in cash, the same as a year ago, and $24.5 million in restricted equity, according to a filling with the U.S. Securities and Exchange Commission. His pay exceeds his record compensation of $30 million in 2007 before the financial crisis.

Dimon, who has run the bank since late 2005, was the highest paid banking and finance chief executive in the S&P 500 in 2017. The median pay for the 43 banking and financial CEOs was $12.1 million, matching median pay for the S&P 500 as a whole, according to a Wall Street Journal analysis of pay data from MyLogIQ LLC.

25 Companies That Pay Their Board of Directors a Shocking Amount

At one time, being a member of the board of directors of an S&P 500 company might have meant attending a few meetings a year, having some meals at the company’s expense, and scoring a nice stipend. Those days are probably over for most publicly traded U.S. companies as demands for board oversight have been… Continue reading 25 Companies That Pay Their Board of Directors a Shocking Amount

Pay Among NEOs Outpaces Chief Execs’

At many companies, the biggest raises in the C-suite this year didn’t go to those who hold the chief executive title. New research from several compensation advisories shows that pay raises among named executive officers in the Russell 3000 this past year outpaced those of CEOs. On one hand, the pay bumps for non-CEOs could show that… Continue reading Pay Among NEOs Outpaces Chief Execs’

CBS’ Ousted Les Moonves Was Among the Top 5 Highest Paid CEOs in 2017

Les Moonves, the former CEO of CBS who was ousted last month over multiple accusations of sexual harassment, turned out to be the fifth highest paid CEO in the U.S. in 2017, according to the latest review of CEO salary data by nonprofit research group Conference Board in partnership with Gallagher and MyLogIQ. Moonves, 68, earned $69.3… Continue reading CBS’ Ousted Les Moonves Was Among the Top 5 Highest Paid CEOs in 2017

Almost 50 Percent of CEO Pay Now in Stock Awards

Stock awards have become a key compensation vehicle used by boards in their efforts to better align pay and performance for the long term, almost entirely replacing stock options. It is one of the main findings from a new report, CEO and Executive Compensation Practices: 2018 Edition, a collaboration by The Conference Board, Gallagher, and… Continue reading Almost 50 Percent of CEO Pay Now in Stock Awards