JP MORGAN CEO JAMIE DIMON GETS A 35 PERCENT PAY RAISE AMID *CUTBACKS, USA Today

[appalachiablue]

JP Morgan CEO Jamie Dimon

USA Today, Jan. 22, 2016

Even as Wall Street braces for more cuts to jobs and bonuses, JPMorgan Chase CEO Jamie Dimon was paid $27 million in 2015, up from $20 million the year before, the company said Thursday.
The pay raise comes after JPMorgan announced record annual profits last week, thanks to cost-cutting that helped to offset stagnating revenue growth.
JPMorgan's board paid Dimon a $1.5 million salary, a $5 million cash bonus and $20.5 million in performance-based stock grants, the company said in a regulatory filing.
Last year, Dimon was paid a $7.4 million cash bonus and $11.1 million in stock awards. His $1.5 million salary has remained unchanged.

This year's stock grants are tied to new, three-year performance metrics. This could could help alleviate criticisms, which bubbled up last year, that Dimon's pay is not properly tied to performance.
JPMorgan "is now one of the few, if not the only, large financial institution that does not tie any element of CEO pay to achievement of goals for a specific metric or metrics," proxy advisory firm ISS said last year ahead of a controversial shareholder vote on the bank's pay.

Banks emerged from a tough 2015 only to face worsening conditions this year, including rising costs tied to souring energy loans.
As a result, bank CEOs are expected to take the ax to personnel costs — their single largest expense — as they scout for new ways to boost profits.
Morgan Stanley and Bank of America have already said they are planing to slash expenses this year through either layoffs or by moving jobs to cheaper cities.
In 2015, JPMorgan cut staff by 3%, or 6,761 jobs. Compensation costs at the New York bank fell by 1% last year.

http://www.msn.com/en-us/money/companies/jpmorgan-ceo-gets-a-35-percent-pay-raise-amid-cutbacks/ar-BBoxMnv

[onethatcares]

1. cover your asses,

they are going to be looking for "new ways to boost profits". There goes that .0003% rate I get on my savings account.

[appalachiablue]

2. You know Jamie needs that money. He, Lloyd and other Bank Execs are barely scraping by!!

With this new raise and personnel layoffs, they'll be able to get Decent Chateaux at Davos next year!

[Jnclr89]

3. All they care about is the stock price

They don't care about the thousands of people they screw to get that extra point. So disgusting.

[appalachiablue]

5. No they don't, predators first rate and proud of it. Some must be sociopaths but

nothing will ever be researched/published negatively affirming that personality disorder in the finance and corporate fields, the Rulers.

[NorthCarolina]

4. OK, well that explains where 20% of my retirement account went.

[appalachiablue]

6. Sorry to know, that's a big chunk. Shame.

[Liberal_in_LA]

7. how much money does he need?

[appalachiablue]

8. Some people think the ultra wealthy might have a compulsion sickness that drives them,

and the money is never enough. Maybe it's a kind of adrenaline thrill seeking and risk taking issue, worship of Mammon, who knows. Yet they are regarded and fawned over because of their wealth-status by many throughout time.

[laundry_queen]

9. That sounds about right

Back in the day they were looked down on as selfish and greedy. Not sure where this latest trend to make them into role models came from. barf.

[KelleyKramer]

10. $20 million of that he pays lower tax rate than their janitors

That's why such a huge $20 million in stock for his pay, that way the greedy scumbag pays a lower tax rate than the people who clean their office toilets.

[smirkymonkey]

11. A face badly in need of a fist if there ever was one.