Open Thread: Does JPMorgan CEO Dimon deserve $23 million?
Jamie Dimon is the chief executive officer of JPMorgan Chase.
May 15th, 2012
10:03 AM ET

Open Thread: Does JPMorgan CEO Dimon deserve $23 million?

Jamie Dimon, the CEO of the nation's largest bank, JPMorgan, went before before shareholders at the company's annual meeting Tuesday and had his $23 million pay package approved, CNNMoney.com reports.

The meeting came  just days after the bank disclosed a $2 billion trading loss, an event that led to the departure of its chief investment officer and forced its CEO to apologize for what he called "a terrible mistake."

Dimon, who also serves as the bank's chairman, faced shareholders who have seen the company's stock decline by more than 14% over the previous five trading sessions.

In the wake of the 2008 financial crisis, shareholders have looked upon the nation's largest banks with increased scrutiny, and have often used shareholder meetings to push an agenda of reform.

Read about how JPMorgan made its multi-billion dollar blunder, and how Dimon gets $23 million for 2011 and bragging rights and then let us know in the comments section how you feel about the CEO's $23 million compensation package.

Do you think Dimon should get that kind of compensation? Does he deserve the pay considering how much his company profits or does a message need to be sent to major bank executives? Let us know below and we may feature your comments on CNN.com

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Filed under: Business • Economy • Finance
soundoff (871 Responses)
  1. TessComments

    Jamie Dimon, the CEO of the nation's largest bank, JPMorgan does NOT deserve a $23 million pay package.
    Executive Golden Parachute Packages should be connected to the financial standing during their tenure and the amount of time they spend on the job. If the Executives screw-up, they should be financially penalized.

    May 15, 2012 at 12:54 pm | Report abuse |
  2. Aramis Rodriguez

    I've been in the Arodnew home industry for over 10 years... I've witness 1000's of families loosing their homes because the banks refuse to make a $40 to $100 thousand dollars adjustment in their mortgages forcing that family to live in the streets, some in motels, cars etc. many families are getting divorce due to their finances, kids are failing at school due to the stress in their homes... if JP Morgan really care like the say all the time... I would love to challange Mr. Dimon to roll up his sleeves and truly get involve with the issue where $23M can really have a huge positive impact. Mr. Dimon if by any chance you get to read this... I guarantee you that you will sleep much better.

    May 15, 2012 at 12:54 pm | Report abuse |
  3. Bleedingheart

    Of course he deserves it. This is America, home of the free, land of the brave, etc. Where everyone is worth whatever they can get. Really, compared to many CEOs, not to mention ball players, actors, and others the dude is underpaid.

    May 15, 2012 at 12:54 pm | Report abuse |
    • Bob Wright

      You must be a typical Republican and a 1%er!!!!!

      May 15, 2012 at 12:57 pm | Report abuse |
    • What?

      Really, underpaid for doing nothing???? Come on. If he did his job, they wouldn't be in this mess, period

      May 15, 2012 at 1:03 pm | Report abuse |
    • getoffthecouchusa

      You are absolutely right!

      May 15, 2012 at 1:09 pm | Report abuse |
  4. wildwallaby

    So, I hear a lot of folks saying that people want to just be given money and live off the backs of others in this country without doing any real work.Yet, you can pretend to work in this country and get 23 million dollars for running a company that bets like they are in Vegas and loses 2 billion dollars.

    May 15, 2012 at 12:54 pm | Report abuse |
  5. graham

    It is unforgiveable that an individual, who has oversite over the loss of $2 billion dollars is awarded a salary of $23 million.
    Is it any wonder that Wall Street is seen as the goliath looking down on ordinary people and disregarding how such decisions help to poor salt into the already bleeding wound.

    May 15, 2012 at 12:55 pm | Report abuse |
  6. Greg

    23 billion I do not think anyone is worth that much.

    May 15, 2012 at 12:55 pm | Report abuse |
    • Tom

      Since you don't know the difference between billion and million you don't get to vote.

      May 15, 2012 at 12:58 pm | Report abuse |
  7. Eric

    Why should he get paid $23 million, after the company lost $2 billion. He needs to step up and admit he should take part of the blame for this lost. What did he do to deserve this kind of pay?

    May 15, 2012 at 12:55 pm | Report abuse |
    • getoffthecouchusa

      And who should get his money...the the people that gambled their 2 billion? Oh poor Chase, placed a bet and lost. We should just give them their money back

      May 15, 2012 at 1:13 pm | Report abuse |
  8. Mukesh Sharma

    Is it so hard to realize how absurd this is? No matter what company you are managing, how can you justify a quarter billion annual pay check? The CEO

    May 15, 2012 at 12:55 pm | Report abuse |
  9. Tom

    None of my business (or yours) since I'm not a stock holder. The company thinks he's worth it and that's all that matters.

    May 15, 2012 at 12:55 pm | Report abuse |
    • Michelle

      It's not about whether he's worth it or not (and who really believes he's worth it?). It's about public perception and sensitivity. If you can accept this kind of money after what the mistakes his company has just made, he has no soul. A quote I read somewhere went something like this.....management does things rights, leadership is about doing the right thing.

      May 15, 2012 at 1:07 pm | Report abuse |
  10. Jim

    The shareholders, those with a vested interest, voted to keep him. It's their call and he obviously has their confidence. The loss did not involve the government or taxpayers and they all should politely butt out.

    May 15, 2012 at 12:56 pm | Report abuse |
    • getoffthecouchusa

      Finely a reasonable voice!!!!!!!!!!!!!

      May 15, 2012 at 1:14 pm | Report abuse |
  11. Cappy

    Yes, an easy one. This guy guided them through the recession. Leader's lead, managers screw up. Let's get away from zero tolerance people.

    May 15, 2012 at 12:56 pm | Report abuse |
  12. slm_nelsonville

    Is this the same guy who said the banking industry doesn't need regulated? OMG he is the poster child for regulations. I think Mr. Dimon should pay his bonus/salary back to the bank and everyone involved in this mess should be fired. Since the board seems to be inept as Mr. Dimon they should all be fired too. I hope there is not a request for another bailout. They ABSOLUTELY don't deserve one. They were looking to make a profit and they got caught. Shame on you Mr. Dimon and your elite group of yes men.

    May 15, 2012 at 12:56 pm | Report abuse |
  13. albert sokalofsky

    NO-NO-NO-NO absolutely NO He must be doing alot of knee bending or the directors are all in the big pay scheme as well

    May 15, 2012 at 12:56 pm | Report abuse |
  14. KJ

    Seriously? how many people in the real world get to keep their job and get a gigantic bonus for screwing up!!! come on, can't we change this somehow?

    May 15, 2012 at 12:56 pm | Report abuse |
  15. vpoli

    No. People don't get rewarded for making big mistakes – why should he?

    May 15, 2012 at 12:56 pm | Report abuse |
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