Best Job In The World Pays Less Than Reporting To Best Job In The World

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Bank of America Corp. co-Chief Operating Officer Thomas K. Montag received a 21 percent raise to $14.5 million for 2012, topping his boss Brian T. Moynihan for the third straight year. Montag, 56, got a $5.46 million cash bonus for 2012, $8.19 million in restricted stock units and an $850,000 base salary, the Charlotte, North Carolina-based lender said today in a regulatory filing. That compares with the $12 million awarded to Moynihan, 53, giving the chief executive officer a raise of more than 70 percent from 2011. “This says to everybody that Brian is OK with Tom getting a superior compensation; Montag is doing a great job in a business that’s very tough right now,” said Jeanne Branthover, managing director at Boyden Global Executive Search Ltd. in New York [Bloomberg, earlier]

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