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Raises at top 6 US banks average fraction of a percentage point

January 22, 2021


Employees at the nation’s six largest banks got an average raise of $271 in 2020, Bloomberg reported Thursday. Even for someone making $50,000 a year, that comes out to a pay bump of half a percentage point. And the penny pinching appears steady up and down the corporate ladder.

JPMorgan Chase is keeping CEO Jamie Dimon’s $31.5 million compensation package unchanged, according to a regulatory filing posted Thursday. That breaks down to a $1.5 million base salary, a $5 million cash bonus and $25 million in “performance share units” whose value varies with that of the company’s stock.

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