BofA Chief Moynihan Gets a 31% Raise to $32 Million
- Pay package is for 2021, the firm’s most profitable year
- Lender boosting compensation for low- and high-ranking staff
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Bank of America Corp. boosted Chief Executive Officer Brian Moynihan’s compensation 31% to $32 million for 2021, a year in which the firm set a record for profitability.
His package includes $1.5 million in salary and a $30.5 million in stock-based incentive awards, the Charlotte, North Carolina-based lender said Friday in a filing. A year ago, Moynihan took a 7.5% pay cut to $24.5 million for 2020 amid the pandemic.