Jamie Dimon gets a $3 million raise

By CNN Newsource

Published January 21, 2022 7:24 AM

By Chris Isidore, CNN Business

Jamie Dimon got a $3 million raise in 2021, JPMorgan Chase disclosed in a filing late Thursday.

The raise boosts the pay for the CEO of the nation’s largest bank by 9.5%, to $34.5 million. The pay package includes a base salary of $1.5 million and a $5 million cash bonus — both unchanged from 2020 — while the remaining $28 million came in stock.

Last week, JPMorgan reported record annual revenue of $125.3 billion and net income of $48.3 billion. The bank also increased its quarterly dividend from 90 cents to $1 per share and continued to strengthen its balance sheet.

JPMorgan shares were up 25% in 2021, but they’re down 7% so far this year because of concerns that high inflation will lead the Federal Reserve to hike interest rates.

The median annual compensation of a JPMorgan employee was $80,102 as of December 31, 2020, according to an earlier filing. The company has yet to disclose its most recent compensation for a typical employee, but Dimon’s 2020 compensation represented 395 times the average JPMorgan worker’s pay package.

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