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This question is about Bank of America salaries.
What is the salary of the CEO of Bank of America?
The salary for the CEO of Bank of America was $32 million in 2021. Bank of America Corp Chief Executive Brian Moynihan's total compensation for 2021 rose by $7.5 million, or more than 30% according to regulatory filings.
Moynihan will receive $32 million for his work during the year, compared with $24.5 million in 2020, the first year of the pandemic when he and two other big bank chiefs received pay cuts.
Bank of America Corp profits rose nearly 30% to $6.77 billion in the fourth quarter of 2021 compared to the year-ago period. And revenue, net interest expense rose by 10% to $22.1 billion. Therefore, Moynihan will receive a base salary of $1.5 million.
The remainder of Moynihan's pay package consists of an equity incentive award worth $30.5 million, according to the filing. Bank of America's board said its decision to raise Moynihan's pay was based on the fact that the bank's net income soared to a record of $32 billion last year, and its stock price rose 47%.
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