JPMorgan boosts CEO Jamie Dimon's pay to $39 million

Core Points - JPMorgan Chase announced an increase in CEO Jamie Dimon's compensation for 2024 to $39 million, reflecting an 8.3$36 million in 2023, following a record year of profitability [1][7] - The compensation package includes a base salary of $1.5 million and$37.5 million in performance-based variable income, with $5 million awarded in cash and$32.5 million in performance share units (PSUs) [2] - The bank reported a record net income of $59 billion for 2024, an 18$50 billion the previous year, and the stock price rose approximately 57% to about $265 per share over the past 12 months [3] Compensation Details - Dimon's total compensation consists of a base salary of$1.5 million and a significant portion of $37.5 million in performance-based variable income, with PSUs making up 87% of his total variable incentive compensation [2] - The performance share units tie Dimon's annual equity-based compensation directly to ongoing performance metrics [2] Context and Future Outlook - Dimon's pay increase comes amid discussions regarding his tenure as CEO, as he is the longest-serving CEO of a major bank since taking the role in 2006 [4] - He has indicated that his time as CEO may be limited, suggesting he could remain in the role for another four to five years, while also considering a position as executive chairman [5][6]