The $40 million club: Big-bank CEO pay hits new heights

Core Insights - The compensation packages for CEOs of four major U.S. banks reached $40 million or more in 2025, driven by competitive dynamics and strong financial performance [4][6] - Year-over-year increases in CEO compensation ranged from 10% to 28%, with Wells Fargo's Charlie Scharf receiving the highest increase at 28% [5][8] Compensation Overview - Charlie Scharf, Wells Fargo: Total compensation of $40 million in 2025, up 28.2% from $31.2 million in 2024. The package included a base salary of $2.5 million and variable compensation of $37.5 million [11][12][14] - David Solomon, Goldman Sachs: Total compensation of $47 million in 2025, a 20.51% increase from $39 million in 2024. The package included a base salary of $2 million and a cash bonus of $10.1 million [17][18][20] - Richard Fairbank, Capital One: Total compensation of $40 million in 2025, a 19.4% increase from $33.5 million in 2024. The package was largely performance-based, with $24.8 million in performance shares [22][23][25] - Jamie Dimon, JPMorganChase: Total compensation of $43 million in 2025, a 10.26% increase from $39 million in 2024. The package included a base salary of $1.5 million and a cash bonus of $5 million [28][30][31] Market Dynamics - The increase in CEO pay is attributed to strong financial outcomes, stock price increases, and competitive pressures on boards to offer attractive compensation packages [6][7] - Other major banks, including Bank of America, Citi, and Morgan Stanley, are expected to disclose similar CEO pay information soon [7]