Bank of America reports 2018 executive compensation
CEO Brian T. Moynihan receives $22.8M
Bank of America reported fiscal year 2018 executive compensation information on March 13, 2019.
In 2018, seven executives at Bank of America received on average a compensation package of $14,745,985, a 2% decrease compared to previous year.Average pay of disclosed executives at Bank of America
Brian T. Moynihan, Chief Executive Officer, received $22,754,510 in total, which increased by 4% compared to 2017. 90.32% of Moynihan's compensation, or $20,552,088, was in stock awards. Moynihan also received $320,159 of change in pension value and nonqualified deferred compensation earnings, $1,500,000 in salary, as well as $382,263 in other compensation.
For fiscal year 2018, the median employee pay was $92,040 at Bank of America. Therefore, the ratio of Brian T. Moynihan's pay to the median employee pay was 247 to one.
Thomas K. Montag, Chief Operating Officer, received a compensation package of $18,789,320, which increased by 2% compared to previous year. 52.26% of the compensation package, or $9,819,320, was in stock awards.
Terrence P. Laughlin, Chairman, earned $17,796,226 in 2018, a 60% increase compared to previous year.
Paul M. Donofrio, Chief Financial Officer, received $11,929,459 in 2018, which decreases by 2% compared to 2017.
Geoffrey S. Greener, Chief Risk Officer, earned $11,657,077 in 2018, a 3% increase compared to previous year.
Thong M. Nguyen, Chairman, received $10,149,958 in 2018.
Dean C. Athanasia, President, Retail and Preferred & Small Business Banking, earned $10,145,343 in 2018.