These 90 Top Executives had Total Compensation Combined in the most recent year disclosed of $1,435 mil, or an average of $15,946,000 for each of them, pretty much matching the like average of Health Care company top executives, and 9% below that of Oil & Gas company top executives.
Yeah, that's 90 and there could be more. The lowest total compensation of Goldman Sach's five named executive officers was $15,746,000. I wonder if there might be more of them with total compensation of at least $10 mil. And the same goes for JPMorgan Chase, whose lowest total compensation of their five was $13,038,000.
In comparison, there were 36 Oil & Gas top executives who had total compensation of at least $10 mil and 43 Health Care top executives who had total compensation of at least $10 mil. Yeah, that's 79 for these two sectors combined, which is 11 short of the 90 in just the Big Financial sector.
There's clearly something wrong with the US economy when the Big Financial sector has at least 90 executives who earned at least $10 mil each in the most recent year it was disclosed. It shows just how excessively greedy the financial sector still is, even three years after the financial meltdown, where many of these financial companies threw the country into a near depression.
My hunch is that the average pay of full-time employees of all US businesses is probably about $45,000 per year. Thus, that above $15,946,000 Big Financial top executives total compensation average is 354 times the $45,000 earned by the average US employee.
And the underemployed working three part-time jobs, totaling 2,000 hours for the year, and getting paid just above the minimum wage make about $20,000 per year. Thus, that above $15,946,000 top executive total compensation average is 797 times the $20,000 earned by that full-time underemployed worker.
And the many unfortunate unemployed for the full year get about $10,000 per year. Thus, that above $15,946,000 top executive total compensation average is 1,595 times the $10,000 of unemployed compensation of the average unemployed person who can't find a job.
It is pretty clear to me that the US has a serious problem with income inequality, and where the economic gap between the very wealthy and everyone else has continued to widely expand in each year since 2001. With its excess culture of greed, the Big Financial sector continues to be one of the main causes and beneficiaries of this income inequality.
Below here is the Total Compensation for each of these 90 Top Executives of Big Financial Companies in the most recent year disclosed:
| Total | ||
| Compensation | ||
| Big Financial | Most Recent | |
| Company | Executive | Year |
| $000s | ||
| Big 6 Financial Banks | ||
| JPMorgan Chase | Dimon | 23,105 |
| JPMorgan Chase | Braunstein | 13,038 |
| JPMorgan Chase | Drew | 15,510 |
| JPMorgan Chase | Erdoes | 15,393 |
| JPMorgan Chase | Staley | 17,625 |
| Bank of America | Thompson | 11,114 |
| Bank of America | Montag | 14,299 |
| Wells Fargo | Stumpf | 19,843 |
| Wells Fargo | Hoyt | 10,542 |
| Wells Fargo | Oman | 16,428 |
| Citigroup | Pandit | 14,857 |
| Citigroup | Havens | 12,984 |
| Citigroup | Leach | 11,355 |
| Citigroup | Medina-Mora | 11,447 |
| Morgan Stanley | Gorman | 12,982 |
| Morgan Stanley | Porat | 11,397 |
| Morgan Stanley | Fleming | 10,011 |
| Morgan Stanley | Kelleher | 13,805 |
| Morgan Stanley | Taubman | 12,630 |
| Goldman Sachs | Blankfein | 16,164 |
| Goldman Sachs | Cohn | 15,804 |
| Goldman Sachs | Viniar | 15,813 |
| Goldman Sachs | Evans | 15,746 |
| Goldman Sachs | Weinberg | 15,753 |
| National/Regional Banks | ||
| US Bancorp | Davis | 13,619 |
| PNC Financial | Rohr | 16,607 |
| Bank New York Mellon | Hassell | 12,350 |
| Bank New York Mellon | Arledge | 18,051 |
| Bank New York Mellon | Kelly | 17,641 |
| Capital One Financial | Fairbank | 18,668 |
| State Street Corp | Hooley | 16,188 |
| State Street Corp | Antonellis | 12,610 |
| State Street Corp | Phalen | 10,566 |
| Northern Trust | Waddell | 14,305 |
| Credit Card Corps | ||
| American Express | Chenault | 23,039 |
| American Express | Gilligan | 15,890 |
| Discover Financial Services | Nelms | 13,890 |
| Investment Advice and Brokers | ||
| BlackRock | Fink | 21,878 |
| BlackRock | Kapito | 16,972 |
| Franklin Resources | Johnson | 12,320 |
| Charles Schwab | Bettinger | 10,104 |
| Ameriprise Financial | Cracchiolo | 18,850 |
| Lazard Ltd | Jacobs | 12,422 |
| Lazard Ltd | Brutani | 11,963 |
| Affiliated Managers | Healey | 14,863 |
| Invesco Ltd | Flanagan | 13,420 |
| Financial Data Services | ||
| Fidelity National Information Services | Martire | 11,107 |
| Moodys | McDaniel | 11,917 |
| Equifax | Smith | 11,013 |
| Fidelity National Financial | Foley | 12,522 |
| Health Insurance | ||
| UnitedHealth Group | Hemsley | 13,395 |
| UnitedHealth Group | Wichmann | 10,711 |
| UnitedHealth Group | Boudreaux | 10,925 |
| UnitedHealth Group | Renfro | 10,603 |
| WellPoint | Braley | 13,258 |
| Aetna | Bertolini | 10,556 |
| Cigna | Cordani | 19,086 |
| Humana | Broussard | 10,532 |
| Coventry Health Care | Wise | 12,989 |
| Health Net | Gellert | 10,328 |
| Other Insurance | ||
| Travelers | Fishman | 16,479 |
| Chubb | Finnegan | 15,721 |
| Allstate | Wilson | 11,180 |
| ACE Ltd | Greenberg | 16,613 |
| WR Berkley | WR Berkley | 15,198 |
| Everest Re Group | Taranto | 10,458 |
| MetLife | Kandarian | 10,631 |
| MetLife | Henrikson | 17,834 |
| MetLife | Mullaney | 10,392 |
| Prudential Financial | Strangfeld | 23,693 |
| Prudential Financial | Grier | 13,260 |
| Prudential Financial | Baird | 10,299 |
| Lincoln National | Glass | 12,702 |
| AFLAC | Amos | 14,628 |
| Unum | Watjen | 12,334 |
| AON | Case | 12,018 |
| AON | McGill | 11,618 |
| Marsh & McLennan | Duperreault | 14,589 |
| AIG | Benmosche | 13,984 |
| REITs | ||
| Annaly Capital Management | Farrell | 35,000 |
| Annaly Capital Management | Denahan-Norris | 35,000 |
| Annaly Capital Management | Fagan | 13,960 |
| Simon Property Group | Simon | 137,167 |
| HCP | Flaherty | 13,763 |
| Ventas | Cafaro | 18,499 |
| Avalon Bay Communities | Jung | 10,118 |
| Equity Residential | Neithercut | 11,307 |
| SL Green Realty | Mathias | 17,407 |
| Other Financial | ||
| Hertz Global Holdings | Frissora | 14,503 |
| H&R Block | Cobb | 11,953 |
| Total all 90 | 1,435,111 | |
| Average | 15,946 |
