JP Morgan CEO Jamie Dimon Just Got a Raise

He earned $34.5M in stocks and cash in 2021
By Stephanie Mojica,  Newser Staff
Posted Jan 21, 2022 12:42 PM CST
JPMorgan CEO Got 50M Reasons to Delay Retirement
JPMorgan Chase CEO Jamie Dimon received $84.5 million in cash and stocks in 2021, including a $50 million bonus to dissuade him from retiring, according to Bloomberg.   (Kevin Wolf/AP Images for JPMorgan Chase & Co.)

(Newser) – At an age where many people are gearing up for retirement, the 65-year-old CEO of JPMorgan Chase got 50 million reasons to stay in his post. Jamie Dimon received a $50 million bonus in early 2021 as an incentive to stay with the mega bank for a minimum of five years, the Wall Street Journal reports. While Dimon’s base salary of $1.5 million has not changed since 2011, his cash and stock bonuses have increased as a result of the bank's dramatic increase in net income. As a result, he earned an additional $5 million in cash and $28 million in stock in 2021, per Bloomberg. That adds up to $34.5 million in 2021 compensation—a $3 million raise over 2019 and 2020—and $84.5 million total when the retention bonus is factored in.

But there's still an eye on who could replace him. The Journal notes Dimon made a few switches among his top executives going into 2022 and any of them could be the next potential CEO. Marianne Lake and Jennifer Piepszak are co-heads of the consumer division, while Daniel Pinto is president of the corporate and investment division. JPMorgan Chase is the largest bank in the US and generated 66% more net revenue ($48.3 billion) in 2021 than it did in 2020, a rise the Financial Times pegs as tied to "its investment bank, which raked in fees from a surge of corporate dealmaking, and far lower losses from loans than were anticipated because of the pandemic." (Read more JPMorgan Chase stories.)

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