Dive Brief:

• JPMorgan Chase’s board approved $43 million in compensation for CEO Jamie Dimon in 2025, the bank disclosed Thursday.
• The pay package represents a 10.3% raise over the $39 million Dimon received for 2024.
• The total sets the standard for the CEO pay packages that big banks will publicize between now and March. Dimon’s 2024 payout tied him with Goldman Sachs CEO David Solomon for the highest-paid chief executive among the six largest U.S.-based banks.

Dive Insight:

While 2024 marked the first time that the CEOs of JPMorgan, Goldman, Bank of America, Citi, Wells Fargo and Morgan Stanley all received more than $30 million, 2025 is the first instance in which one of them broached $40 million without the aid of a one-time bonus. (Morgan Stanley’s Ted Pick received more than $44 million in 2023, but $20 million of that stemmed from a special payout the bank gave all three top contenders to succeed longtime CEO James Gorman.)

In its disclosure Thursday, JPMorgan credited Dimon for the “continued development of top executives to lead for today and the future.”

Dimon, 69, became CEO at JPMorgan at the start of 2006, and his succession plans have been a point of industry curiosity for years – so much so, that he maintained a running joke with observers who would ask his expected timeline to transition out of the top role. Five more years, he would tell analysts year after year – until, at recent investor days, he projected shorter timelines. 

JPMorgan has engaged in a string of executive shuffles since 2021, putting power players such as Marianne Lake, Troy Rohrbaugh, Doug Petno and – at one point – Jennifer Piepszak in place to potentially succeed him. However, as recently as last week, Dimon said he would like to stay in his job for at least five more years.

"I love what I do," Dimon told the U.S. Chamber of Commerce on Jan. 15, according to Reuters. "It's up to the board how long I do it. As long as I have the energy and the spirit in the eye and the fire in the gut, yeah, I want to do it."  

The board gave Dimon a one-time $52 million “special award” in 2021, which gave him an incentive to stay through at least this year.

Beyond executive development, JPMorgan lauded Dimon’s “continued commitment to shareholders and his longstanding exemplary leadership of a premier financial services firm.”

JPMorgan reported $57 billion in net income for 2025. That’s just shy of the record total the bank logged the year before, according to Bloomberg. JPMorgan has reported record revenues for eight consecutive years, the bank said Thursday. Additionally, JPMorgan shares jumped 34% in value in 2025, according to The Wall Street Journal.

The bank’s return on tangible common equity stood at 20% for 2025. That’s crucial, too – as it’s the major metric by which the company bases the performance-share portion of Dimon’s pay.

Dimon received $1.5 million in annual salary for 2025, and a $5 million cash bonus. But the other $36.5 million comes in at-risk performance share units.

Three developments have highlighted an already busy 2026 for the bank:

• JPMorgan agreed this month to take over as the issuer of the Apple Card.
• It will roll out an in-house artificial intelligence-powered tool to help make voting decisions instead of relying on external proxy firms for advice; and
• Dimon and the bank were sued Thursday by President Donald Trump, who accused JPMorgan of closing his accounts on the basis of politics.

As for 2025, JPMorgan opened a new $3 billion headquarters, launched a geopolitics center, embraced a slow-roll retail growth strategy, relaunched home equity lines of credit and is preparing to begin digital retail banking in Germany.

Above all, though, Dimon is seen as a standard-bearer for the banking industry, and his opinions are sought on anything from credit card caps to the Federal Reserve to immigration.

Dimon saw an 8.3% raise in 2024 – a year in which many of his contemporaries saw even bigger compensation bumps. Bank of America CEO Brian Moynihan saw a 21% pay increase to reach $35 million. Citi CEO Jane Fraser saw a roughly 33% bump to reach $34.5 million. Pick, of Morgan Stanley, received a nearly 42% raise, for $34 million in compensation. And Solomon’s $39 million represented a roughly 26% bump.

Wells Fargo CEO Charlie Scharf, with a 7.6% bump in 2024 to reach $31.2 million, stood as the outlier – though his compensation presumably could see the largest increase from 2025 after his bank was freed from a long-running asset cap implemented by the Fed.