Maybe banking regulations are Un-American, after all, Jamie Dimon.
In this country it’s pretty standard to have a lower salary than your boss. But then again, nothing about compensation in the financial services industry looks all that normal to the rest of us.
Take, for instance, the example of Daniel Pinto, CEO of JPMorgan’s corporate and investment bank, based in London. Though he technically works for Jamie Dimon, his base salary of $7.4 million, well above Dimon’s base pay of $1.5 million, according to a report in Bloomberg News.
The difference is the result of differing regulations on executive pay between the U.S. and Europe. According to Bloomberg:
Of course, the above examples show just how miserably lawmakers are failing when it comes to reining in Wall Street’s excesses. Jamie Dimon’s total pay in 2014 came to a cool $20 million, a sum that should soothe the banker’s anger over regulation — and pretty much anything else, for that matter.