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Bonus Watch ’13: Brian Moynihan Gets A Raise

Time was, being Chief Executive Officer of Bank of America was a thankless job that involved being mocked by Stephen Schwarzman, engaging in hand-to-hand combat, and generally feeling as though one’s ass was being kicked on a daily basis. It may still be a thankless job that involves all those things but now it comes with a little extra cash to make B-Moy feel better about himself/the prank calls that he knows are coming from Blackstone.

Bank of America Corp. boosted Chief Executive Officer Brian T. Moynihan’s 2012 compensation by more than 70 percent to about $12 million and agreed to increase his base salary for this year. Moynihan received $11.1 million in stock grants for 2012, almost doubling the amount he got the previous year, according to a regulatory filing today. For 2013, the bank increased his base salary to $1.5 million, compared with $950,000 for each of the previous three years, according to a person briefed on the matter.

BofA Increases Moynihan’s Pay 71% to $12 Million in 2012 [Bloomberg]

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3 Responses to “Bonus Watch ’13: Brian Moynihan Gets A Raise”

  1. InfiniteGuest says:

    Why?

  2. Tom Montag says:

    Raise it by another $18mm and he will touch his co-Chief Operating Office's 2010 pay package.

  3. Dockers says:

    But his spirit points were cut by 70%.

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