Bank of America lifts Moynihan’s pay 17% to $41 million for 2025

Core Viewpoint - Bank of America Corp. has raised CEO Brian Moynihan's total compensation to $41 million for 2025, despite the bank's stock performance lagging behind its peers, even as profits improved [1]. Compensation Details - Moynihan's compensation package includes a base salary of $1.5 million and equity incentive awards totaling $39.5 million, with no cash bonus, consistent with previous years [2]. - Last year, Moynihan's pay was increased by 21% to $35 million following a boost in the bank's earnings [2]. Financial Performance - In 2024, Bank of America reported a net income of $30.5 billion, reflecting a 13.1% increase from the previous year [3]. - The bank is focused on revenue growth while managing expenses, utilizing technology and artificial intelligence to control costs [3]. Leadership and Future Plans - Moynihan, who has been CEO for 16 years, has expressed interest in continuing his role for the foreseeable future [4]. - Under his leadership, the bank has set new financial targets aimed at improving shareholder value and managing spending effectively [5]. Industry Comparison - In comparison, other major banks have also increased their CEOs' compensations, with JPMorgan Chase's Jamie Dimon receiving $43 million (up 10.3%), Goldman Sachs' David Solomon at $47 million (up 21%), and Morgan Stanley's Ted Pick at $45 million (up 32%) [6].