Jamie Dimon will get his well-deserved $31.5 million bonus
American bank JPMorgan Chase doesn’t mess with his top man’s million-dollar reward. Jamie Dimon, who has been in charge of the bank since 2005 for his commitment in crisis year 2020, dominated by the coronavirus, paid a salary and bonuses of USD 31.5 million. The reward is equal to one year earlier.
Dimon’s salary package includes 25 million dollars in shares, which are linked to performance. In addition, the bank announced that it had a basic salary of USD 1.5 million and a bonus of USD 5 million. Dimon is one of the last bank executives on Wall Street to be at the helm even during the previous crisis, the financial crisis.
The year 2020 will be the year in which the pandemic drove economies around the world. As a result, banks had to set aside billions of dollars to cover future bad loans. JPMorgan also closed the year with a profit of $ 29.1 billion, a fifth less than a year earlier. But in the closing quarter of the year, the bank even made record profits, mainly due to an increase in revenues from commercial and banking activities.
The 64-year-old Dimon is considered one of the most prominent executives in the global banking sector. In March he underwent an emergency surgery at his heart and temporarily transferred the bank’s management to his co-directors. Since 2016, he has been the top paid executive of the big American banks. The rewards of the top men of the other financial Molokhs have not yet been announced.