NEW YORK—The average pay for the CEOs of the nation’s largest banks in 2025 exceeded the assets size of many credit unions, with six chief executives taking home more than $40 million.
The heads of the largest U.S. banks by assets — JPMorgan, Bank of America, Citigroup, Goldman Sachs, Wells Fargo and Morgan Stanley — all received $40 million or more in annual pay, according to recent regulatory filings, the Financial Times reported. The combined average pay increases for the six chiefs represented a 22% increase over the prior year.
Nearly 300 Times Media Bank Pay
“With their average remuneration already standing at 298 times that of their median bank employees in 2024, according to regulatory filings, the robust raises stand to further widen the gap with the rank-and-file at a time when inflation and modest wage gains are making affordability issues a top concern across the economy,” the Financial Times said in its analysis. “Still, the CEOs presided over average stock price gains of 42% last year — perhaps the most closely watched measure of executive performance.”
According to the Financial Times, Goldman Sachs’ David Solomon was the highest paid CEO with a $47 million total package that included a $10.1 million cash bonus, $31.5 million in stock and $3.4 million in carried interest from the funds the bank manages. Goldman added carried interest to Solomon’s pay a year ago in order to reflect the pay framework of large asset managers to retain top talent, the report said.
Who Got What
Other Pay Packages included:
- Bank of America CEO Brian Moynihan was paid $41 million a 17% jump over the previous year, the bank’s regulatory filing said.
- Citi CEO Jane Fraser was paid $42 million for the same period, nearly a quarter more than the previous year. She also received a $25 million retention bonus in October.
- JPMorgan CEO Jamie Dimon was paid $43 million
- Morgan Stanley’s Ted Pick received $45 million in the same period.
