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The highest-paid CEOs in the U.S. banking industry

Aarthi Swaminathan
·Reporter
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JP Morgan’s (JPM) Jamie Dimon topped the list yet again as the highest-paid banking and finance CEO in 2017, according to analysts at S&P Global Market Intelligence.

Dimon, who joined the bank in 2005, earned $28.3 million in total compensation in 2017, up 3.9% from the year before. Earlier this week, the company reported a solid performance this quarter, and Dimon told analysts on the call that he was upbeat on global growth.

Dimon’s payout is only $1.7 million shy of his all-time record at $30 million, which he earned in 2007.

Picture: S&P Global Market Intelligence
Picture: S&P Global Market Intelligence

Dimon has been the highest-paid among all the bank chiefs in 3 out of 4 years, according to a separate analysis of pay data by the Wall Street Journal.

Bank of America’s (BAC) Brian Thomas Moynihan came in second, raking in $21.3 million in total compensation — a whopping 37.8% increase year-over-year.

Across all industries, Broadcom’s (AVGO) Hock Tan was the highest-paid CEO, according to the AP’s CEO compensation study.

Looking at 339 executives at S&500 companies, they found that Tan made a cool $103.2 million in 2017, coming mostly from a stock grant, valued at $98.3 million.

An American flag hangs on the front of the New York Stock Exchange. (AP Photo/Peter Morgan, File)
An American flag hangs on the front of the New York Stock Exchange. (AP Photo/Peter Morgan, File)

The average payout for a CEO in 2016 was $15.6 billion across industries, and the CEO-to-worker compensation ratio was 271-to-1, according to the Economic Policy Institute (EPI).

Analysts at the EPI also noted that “CEO pay has historically been closely associated with the health of the stock market.”

“Amid a healthy recovery on Wall Street following the Great Recession, CEOs enjoyed outsized income gains even relative to other very-high-wage earners,” they wrote.

But this had a positive effect on the overall income of the labor force: “Outsized CEO pay growth has had spillover effects, pulling up the pay of other executives and managers, who constitute a larger group of workers than is commonly recognized.”

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