JPMorgan Chase CEO Jamie Dimon’s Compensation Climbs to $36 Million in 2023

JPMorgan Chase CEO Jamie Dimon‘s compensation for 2023 has been announced, with a total of $36 million, reflecting a 4.3% increase from the previous year. The compensation package includes a base salary of $1.5 million and a performance bonus of $34.5 million, consisting of $5 million in cash and $29.5 million in stock. The news comes amidst a backdrop of economic uncertainty, geopolitical tensions, and the ongoing effects of the COVID-19 pandemic.

The bank’s board stated that the increase in compensation is a result of Dimon’s successful stewardship of the firm, leading to growth in all of its market-leading lines of business, record financial results, and a strong balance sheet. Additionally, JPMorgan navigated through regional bank turmoil, supported its clients through challenging times, and completed the acquisition of First Republic.

Last year, JPMorgan reported its highest-ever net interest income after acquiring First Republic Bank. Dimon, who has been at the helm of JPMorgan since 2005, is estimated to have a net worth of $1.7 billion.

In October, it was announced that Dimon and his family intend to sell 8.6 million shares of JPMorgan, with the decision not being related to leadership succession. However, there will be no immediate plans for Dimon to sell more stock, although he may consider doing so in the future. Other JPMorgan executives also received pay hikes of over 5% in 2023.

Nupur Anand, a U.S. banking correspondent at Reuters in New York, covered this news alongside Arasu Kannagi Basil in Bengaluru. The article has been edited by Lananh Nguyen, Marguerita Choy, and Jamie Freed.