Bank CEO's Outearn Their Employers in 2011 (C) (JPM) (GS) (BAC)
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Maybe the most unsurprising news of the day: bank CEO's are still getting paid amid this year's debacles.
Rochdale Securities' Dick Bove compiled data, and the results are generally in-line with what was expected.
Notably, earnings per share for banks rose 13 percent for the 23 institutions Bove covers, but share prices dropped on average of 30 percent through 2011. CEO salaries remained about 65 times that of the average bank employee.
We assume the salaries are base, and not calculated with stock options, bonuses, and other benefits.
Starting the list is Bank of America's (NYSE: BAC) Brian Moynihan. He'll get $2.26 million for 2011.
J.P. Morgan's (NYSE: JPM) Jamie Dimon will get $41.9 million. JPMorgan shares are down 23 percent. Goldman Sachs' (NYSE: GS) Lloyd Blankfein will take in $21.7 million.
Goldman shares not only fell 46 percent, but the company reported only it's second quarterly loss since coming public over 10 years ago.
Of course, employees didn't too bad overall. Here's a list of total compensation per employee in comparison to what was brought in in earnings divided by employee count.
Rochdale Securities' Dick Bove compiled data, and the results are generally in-line with what was expected.
Notably, earnings per share for banks rose 13 percent for the 23 institutions Bove covers, but share prices dropped on average of 30 percent through 2011. CEO salaries remained about 65 times that of the average bank employee.
We assume the salaries are base, and not calculated with stock options, bonuses, and other benefits.
Starting the list is Bank of America's (NYSE: BAC) Brian Moynihan. He'll get $2.26 million for 2011.
J.P. Morgan's (NYSE: JPM) Jamie Dimon will get $41.9 million. JPMorgan shares are down 23 percent. Goldman Sachs' (NYSE: GS) Lloyd Blankfein will take in $21.7 million.
Goldman shares not only fell 46 percent, but the company reported only it's second quarterly loss since coming public over 10 years ago.
Of course, employees didn't too bad overall. Here's a list of total compensation per employee in comparison to what was brought in in earnings divided by employee count.
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