If you ever wondered about a pay disparity between the top and the bottom, pay close attention here. CEOs and presidents are often paid very well at the big banks. SNL Financial has released its list of the highest paid bank chief executives in America.
While these figures will look egregious to many workers with 22.2% median compensation gains in 2012, SNL is signaling that compensation packages have continued to align more closely with external views on how executives should be rewarded and what they should be rewarded for. SNL also shows that the median pay at the largest banks actually fell.
SNL indicates that Richard Fairbank of Capital One Financial Corp. (NYSE: COF) and John Stumpf of Wells Fargo & Co. (NYSE: WFC) are among the highest compensated executives. SNL also showed that Citigroup Inc. (NYSE: C) has realigned its pay and listened to shareholders, while J.P. Morgan Chase & Co. (NYSE: JPM) considered how to balance CEO penalties with the bank’s broader and more positive financial performance.
Read also: The Seven Safest Big American Banks for 2013
Other banks included in this list of highest paid CEOs are U.S. Bancorp (NYSE: USB), State Street Corp. (NYSE: STT), First Republic Bank (NYSE: FRC), Bank of New York Mellon (NYSE: BK), Regions Financial Corp. (NYSE: RF) and BB&T Corp. (NYSE: BBT).
We show two different images below on this matter, both of which are snapshots from the SNL piece. The first image includes a highest CEO pay of all banks. The other shows the highest paid CEOs of the second-tier banks, with assets of $10 billion to $500 billion.
If we could steal one quote from Mel Brooks here, “It’s good to be da’ king!”
As you can see in the second table from SNL, the report also shows the lowest paid CEOs of the top second-tier banks with assets of $10 billion to $500 billion. Here you can see SNL’s full 2012 bank CEO compensation report.
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