Jamie Dimon will earn less than last year as he joins Apple’s Tim Cook as the latest big-time CEO to miss out on a bigger payday.

The sluggish economy has prompted investors in many companies to call for lower executive pay. And feeling the pressure, some businesses agreed.

The latest to earn less is JPMorgan Chase CEO Jamie Dimon, who will return to the same base pay in 2023 as he did last year, but without an additional “special award.” He will receive a total payment of $34.5 million—a $1.5 million salary and a bonus of $33 million, JPMorgan Chase said regulatory filings on Thursday.

Last year, the bank gave Dimon, who has been CEO since 2006, a special award that added $50 million to his total compensation. But the shareholders complained about the additional salary, which the company’s board decided to scrap this year and “committed not to give him any special awards in the future.”

In May 2022, the shareholders of was refused by the bank an option bonus for Dimon after his take-home pay of $84.4 million in 2021, which includes a $52.6 million special award.

Last year, JP Morgan’s revenue fell by nearly a quarter while its shares fell by approx 17%.

In its regulatory filings, the bank praised Dimon’s work in 2022. “Among the significant challenges of intense competition, growing geopolitical tension, global economic uncertainty, rising inflation and higher rates, and the lingering impact of Covid -19, under the supervision of Mr. Dimon , the company continues to serve its clients and customers around the world at a time of unprecedented business needs,” the bank said.

Meanwhile, Morgan Stanley CEO James Gorman and Goldman Sachs CEO David Solomon was paid each $35 million by 2021. Their salaries for 2022 have not yet been disclosed.

In recent years, the growing conversation about executive compensation and economic inequality has been hotly debated. Executive pay has grown 1,460% since 1978, according to research by the Economic Policy Institute last year. By 2021, CEOs will earn 399 times more than an average worker.

Some CEOs have recommended their own pay cuts, even as they face shareholder criticism. Last week, Apple said CEO Tim Cook’s salary will be cut by 40% for 2023 after investors complained about his $84 million in earnings in 2022. In of it proxy statement, Apple said Cook’s target compensation this year will be roughly $49 million.

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