JPMorgan Chase announced on Thursday that CEO Jamie Dimon's 2024 pay package increased by approximately 8.3% to $39 million after the bank reported a record profit due to a resurgence in dealmaking and fundraising.
Dimon's compensation comprised a base salary of $1.5 million and $37.5 million in incentives.
In 2024, JPMorgan's stock reached an all-time high, driven by successful deals and trading activities in the fourth quarter.
Previously, Dimon's annual pay was $36 million in 2023, $34.5 million in 2021 and 2022, amid economic uncertainty, geopolitical tensions, and the challenges posed by the COVID-19 pandemic.
Several other top executives at the bank also experienced pay raises ranging from 4% to 21% in 2024.
Dimon's compensation matched that of CEO David Solomon, who also earned $39 million in 2024.
Dimon, a prominent CEO with a tenure of 19 years exceeding his peers, indicated his likely retirement within the next five years.
The board has identified potential successors to take over Dimon's role, including Marianne Lake, CEO of consumer and community banking; Troy Rohrbaugh, co-head of commercial and investment banking; and Mary Erdoes, CEO of asset and wealth management.
Jennifer Piepszak, another senior executive, recently withdrew herself from consideration for the CEO position, according to the bank.