JPMorgan Chase & Co. announced on Thursday that its Board of directors approved the annual compensation of $39 million for the company's Chief Executive Officer James Dimon for 2024. The figure was $3 million higher than Dimon's compensation from the previous year.
The company stated that the annual rise in compensation was due to Dimon's leadership of the company, which led to "growth across all of its market-leading lines of business, record financial results and a fortress balance sheet." The total compensation includes an annual base salary of $1.5 million, along with a performance-based variable incentive compensation of $37.5 million.
This approval comes after the company reported a 10% annual increase in revenue to $43.7 billion in the fourth quarter of fiscal 2024.
