These Are the 10 Highest Paid Bankers
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Bloated CEO pay continues to eclipse stagnate wage growth for rank-and-file workers, but chief executives aren't the only members of the C-suite bringing home the bacon.
Some lower-level banking executives got giant paychecks last year, some even outpacing the CEOs of their competitors. Half of the 10 best-paid executives at U.S. banks in the Standard & Poor's 500 aren't the chief executives of their companies, and 17 non-CEOs at banks in the S&P 500 earned more than the median $8 million that CEOs at those banks got, USA Today reports.
Of the 10 highest paid banking executives in 2015, scandal-embroiled Wells Fargo CEO John Stumpf—who suffered a thorough tongue-lashing from Elizabeth Warren over the bank's fake account scandal during Tuesday's Senate Banking Committee hearing—tops the list. JPMorgan Chase's top asset manager is the highest paid woman, and tow Chief Operating Officers (COOs) are on the list too.
Here is the total compensation for the 10 highest-paid bankers at banks in the S&P 500:
1 — John Stumpf, Wells Fargo CEO ($19.3 million)
2 — Jamie Dimon, JPMorgan Chase CEO ($18.2 million)
3 — Matthew Zames, JPMorgan Chase COO ($17.6 million)
4 — Mary Callahan Erdoes, JPMorgan Chase CEO, asset management ($17.1 million)
5 — Daniel Pinto, JPMorgan Chase CEO, corporate and investment bank ($16.7 million)
6 — James Forese, Citigroup CEO, institutional ($16.2 million)
7 — Thomas Montag, Bank of America COO ($14.8 million)
8 — Michael Corbat, Citigroup CEO ($14.6 million)
9 — Brian Moynihan, Bank of America CEO ($13.8 million)
10 — William Demchak, PNC CEO ($12.7 million)