Monday, June 25, 2012

World's top bankers handed 12% pay rise to average $12.8MILLION...

The world's top bankers are enjoying double-digit annual pay rises despite profits and share prices at their institutions plummeting, research has revealed.

JP Morgan Chase's Jamie Dimon, Citigroup's Vikram Pandit and Bank of America's Brian Moynihan are amongst a host of senior executives to see wages boosted.

U.S. pay research group Equilar discovered the top 15 bank chiefs were handed an average 11.9 per cent pay rise last year to $12.8million, the second increase in a row.

Dimon, whose reputation took a battering last month for a $2billion trading loss, was given the highest increase with a $23.1million pay package that was 11 per cent higher.

Pandit's pay soared to $14.9million, after he received a $1 salary for the two previous years because of the unprofitability of the bank. Full story...

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