Apparently coming up with new schemes to charge consumers $5 to use their debit card, not helping middle class Americans stay in their homes, and making it to the Elite 8 in Consumerist’s “Worst Company In America” bracket is worth a lot of money.
According to Reuters, Bank of America’s CEO Brian Moynihan received $8.1million in compensation in 2011.
Moynihan’s 2011 pay included $6.1 million in performance-based stock that would vest only if the bank were to meet a return on assets measure by the end of 2015. His total compensation also counted $950,000 in salary, $604,698 from a change in pension value and deferred compensation and $420,524 in other compensation, largely related to his use of corporate aircraft… In February of this year, the bank awarded Moynihan shares worth $6.1 million for his 2011 performance. About $4.1 million of those shares were performance-based, while the rest will vest in 12 monthly portions and be paid out in cash. Those shares will be counted in next year’s proxy.
That will quadruple his 2010 earnings of $1.9 million.
So, how much do you think Mr. Moynihan deserved to earn this year?