While the nation's biggest financial institutions saw their market capitalization drop by an average of 11.1 percent, bank CEO compensation averaged $7.74 million, according to calculations by Rochdale Securities analyst Dick Bove.
According to CNBC that means the banking heads earned 50 to 100 times the average worker and did much better than their shareholders, who saw bank stocks as a group plunge about 26 percent this year.
Take JPMorgan Chase [JPM 33.20 -0.22 (-0.66%) ]. The Wall Street titan's CEO, Jamie Dimon, will earn just shy of $42 million this year for a bank that lost nearly a quarter of its market cap—or 23 percent—during the year, according to Bove's numbers.
There's also Bank of America [BAC 5.483 0.023 (+0.42%) ] head Brian T. Moynihan, who will earn a comparatively small $2.26 million this year while his bank's market value dropped 60 percent — the worst in Rochdale's study.
Goldman Sachs [GS 90.89 -0.12 (-0.13%) ] head Lloyd Blankfein's compensation was $21.7 million, while the investment bank he runs lost 46.4 percent of its market cap….
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