Why CEO Pay Climbed in 2020 Even as Bank Profits Fell

National Mortgage News, May 21, 2021–Allissa Kline (subscription)
Take a look at 2020 pay packages for bank CEOs and a headline theme emerges: total compensation rose even as bonuses decreased. But peel back a layer and you’ll find that in a year rife with distress and uncertainty, bank boards and compensation committees relied less on numbers and formulas, and more on their perceptions of how well CEOs led their banks through the pandemic. Doing so helped limit the size of bonus cuts.
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