Saturday, June 29, 2019

JPMorgan Chase Top-Tier Executives Average Pay Raise Was 8.5% Per Year During the Past Eleven Years (2008-2018)

From SEC Proxy Statement Filings, below are the JPMorgan Chase's Top-Tier Executives Annual Total Compensation for each of two consecutive full years of employment for the most recent eleven years.

JPMorgan Chase is the ninth Dow Industrial Company I have researched on Top-Tier Executives Average % Pay Raises Per Year and its 8.5% is the second lowest of the nine Dow Companies.

In 2008, the first year of the 2008-9 horrific US Financial Meltdown which financially devastated so many US citizens in the middle and lower economic classes, the JPMorgan Chase's Top-Tier Group of Executives had Total Compensation of $99.9 mil, amazingly up a staggering 21% from the $82.3 mil in 2007.

JPMorgan Chase Chairman and CEO Jaimie Dimon had Total Compensation of $35.8 mil in 2008, up an even more staggering 24% from the $28.9 mil in 2007.

On one positive note from a fairness standpoint, Jaimie Dimon's Total Compensation was reduced to only $1.3 mil in 2009, the second year of the 2008-2009 US Financial Meltdown. 

The US Government should pass wisely-designed Fair Pay Raise Income Inequality Narrowing tax incentives ..... the carrot ..... and wise tax disincentives ..... the stick.

The US Government should also require all US Corporate Boards to include at least one worker representative or else Income Inequality will never narrow. 

I will continue this same research for many other large US Companies to get a better handle on just why the US has such massive continuing Income Inequality Expansion.


FYE FYE FYE FYE FYE FYE FYE FYE FYE FYE
JPMorgan Chase 2018 2017 2017 2016 2016 2015 2015 2014 2014 2013
Top-Tier Total Total Total Total Total Total Total Total Total Total
Executive Comp Comp Comp Comp Comp Comp Comp Comp Comp Comp
$ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s
Dimon     30,034     28,322     28,322     27,237     27,237     18,230     18,230     27,702     27,702     11,792
Pinto     21,106     19,016     19,016     20,023     20,023     16,687     16,687     15,834     15,834     17,273
Smith     20,804     19,407  N/A   N/A   N/A 
Erdoes     19,900     19,242     19,242     18,432     18,432     17,100     17,100     15,662     15,662     15,800
Lake     14,161     12,961     12,961     11,649     11,649     10,512     10,512       9,151       9,151       8,229
Zames     18,711     17,601     17,601     17,017     17,017     17,400
Totals   106,005     98,948     79,541     77,341     96,052     80,130     80,130     85,366     85,366     70,494
Annual % Change 7.1% 2.8% 19.9% -6.1% 21.1%
FYE FYE FYE FYE FYE FYE FYE FYE FYE FYE FYE FYE
JPMorgan Chase 2013 2012 2012 2011 2011 2010 2010 2009 2009 2008 2008 2007
Top-Tier Total Total Total Total Total Total Total Total Total Total Total Total
Executive Comp Comp Comp Comp Comp Comp Comp Comp Comp Comp Comp Comp
$ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s
Dimon     11,792     18,717     18,717     23,105     23,105     20,816     20,816       1,322       1,322     35,765     35,765     28,888
Pinto     17,232     17,010  N/A   N/A     
Erdoes     15,800     14,746     14,746     15,393     15,393     10,893     10,893     10,454  N/A   N/A 
Lake  N/A   N/A             
Zames     17,400     16,604  N/A   N/A     
Braunstein     10,538     13,038     13,038     16,669  N/A   N/A     
Drew     15,510     15,943  N/A   N/A     
Staley     17,625     13,619     13,619       8,960       8,960     15,713     15,713     14,600
Black     16,076       7,962       7,962     19,189     19,189     15,614
Scharf     11,218       6,917       6,917     15,538  N/A   N/A 
Winters         20,040     19,514     19,514     15,955
Cavanaugh       9,046       6,127       6,127       9,705       9,705       7,256
Totals     62,224     67,077     44,001     51,536     84,671     77,940     81,668     41,742     51,328   115,424     99,886     82,313
Annual % Change -7.2% -14.6% 8.6% 95.6% -55.5% 21.3%
11 Year Avg Per Year % Change 8.5%