In January 2021, the JPMorgan Chase & Co. board voted in opposition of giving CEO Jamie Dimon a salary raise. At the time, Dimon was earning $31.5 million annually. Despite this, Dimon's salary has since increased, which may be attributed to the company's stock performance and the incentives he received.
So, what is Jamie Dimon's salary?
In 2023, Dimon is considered one of the highest-paid CEOs in the U.S., and his salary history serves as a track record to prove it. Speaking of salary history, here's a look back at how much Dimon has made serving as the CEO of JPMorgan Chase, a role he secured in 2005, and where his net worth stands.
What is Jamie Dimon’s net worth?
Listed on the Forbes Billionaires list for 2021, Dimon’s net worth still stands in the billions in 2023. As of May 2023, Dimon's net worth was an estimated $1.6 billion, according to Forbes, down from the $1.9 billion he was worth in 2021. Dimon first joined the billionaires club in 2015 with a net worth of $1.1 billion. He's one of only a few bank managers to reach that level of wealth.
In 2021, Dimon's compensation included an annual base salary of $1.5 million and a performance-based incentive of $30 million, which was split between $5 million in cash and $24.5 million in performance shares, according to a regulatory filing with the SEC.
In 2022, Dimon's earnings jumped to $34.5 million, which included an annual base salary of $1.5 million and $33 million in performance-based incentive pay, Reuters reported.
Dimon has been with JPMorgan Chase since 2004, although it wasn't until Dec. 31, 2005, that he was named CEO of JPMorgan Chase.
In 2020, he got a 1.6 percent raise in his income for his work in helping the company bring in record earnings during 2019. That year was a good one for the bank, which produced the largest profit of any bank in history at $36.4 billion. To coincide with the boost in profits, shares also climbed more than 40 percent.
In 2020, JPMorgan's earnings took a bit of a hit. The bank’s net income of $29.1 billion was down about $7.3 billion from 2019. Its return on tangible common equity at 14 percent was also down from the prior year when it was 19 percent.
CEO of JPMorgan Chase
Net worth: $1.6 billion
Jamie Dimon is best known for his leadership role at JPMorgan Chase. The billionaire banker reportedly turned down jobs at Goldman Sachs and Morgan Stanley to work as an assistant at American Express.
Birthdate: March 13, 1956
Birthplace: New York City, N.Y.
Education: Tufts University (BA)
Harvard University (MBA)
Spouse: Judith Kent
Why is Jamie Dimon so powerful?
Born and raised in New York City, N.Y., Dimon received his undergraduate degree from Tufts University, followed by an MBA from Harvard Business School.
He started his career in finance at American Express in 1982. It was there that Dimon met his mentor Sandy Weill. He followed Weill to Travelers insurance but, soon after the company merged with Citigroup and Weill asked Dimon to resign.
In 2000, Dimon took the reins as the CEO for Chicago-based Bank One, where he led the bank to a record profit of $3.5 billion over three years.
A year after JPMorgan Chase bought Bank One in 2004, Dimon was named the CEO. Under Dimon’s leadership, JPMorgan Chase has become the largest lender in the U.S., surpassing Bank of America and Citigroup.
Who is Jamie Dimon's wife?
Dimon met his wife, Judith Kent Dimon, when the two were students at Harvard. According to a story in Money Inc., Dimon was so strapped for cash in his college days that his future wife had to pick up the tab.
The couple married in 1983. They have three daughters — Laura, Julia, and Kara.
Dimon spent some of his accumulated wealth on real estate. He purchased a $10 million apartment in a historic pre-war building on Fifth Avenue in New York City and an expansive 34-acre estate in Bedford, N.Y.
Was Jamie Dimon involved with Jeffrey Epstein?
Dimon and Epstein's names were brought up again after the government of the U.S. Virgin Islands and an Epstein’s accuser filed suit against JPMorgan in U.S. District Court in Manhattan. The defendants allege Dimon "knew in 2008 that his billionaire client was a sex trafficker," CNBC cited.
JPMorgan has denied any wrongdoing and Dimon is scheduled to be deposed on May 26–27, 2023, in New York.