Bonus Watch '14: Bank of America CEOs (Make Less Than Their Underlings)
...which has got to hurt.
Moynihan, whose role as chairman of the bank the board was forced to defend the shareholders in a filing today, took a pay cut last year. The real kick in the pants, though, was not the actual dollar amount but that the figure, for the second time in a row, was smaller than one of his deputies.
Mr. Moynihan was awarded $13 million in stock and cash last year, according to the bank’s proxy statement released Thursday. That was down from the $14 million he received in 2013. And again, the head of the firm’s investment bank, Thomas K. Montag, was paid more than his boss. Mr. Montag was awarded $14 million in compensation, down from $15.5 million in 2013.
