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. Gerald

    This guy should have been the first one fired, then everyone else. It is unbelieveable that the board and stockholders would even entertain paying this guy anything. How in the name of all that is good can anyone justify paying anyone anything for doing such a poor job. I find it somewhat difficult that this guy would even in good conscience accept anything for a job so poorly done.

    May 15, 2012 at 1:16 pm | Report abuse |
    • Chuck

      Agreed. I am a Realtor who primarily handles short sales and the banks are NEVER forgiving in the way this CEO has been forgiven. Chuck @DCMetroShorts

      May 15, 2012 at 1:24 pm | Report abuse |
  2. Jean Sartre

    I don't care if you are the King of Saudi Arabia, an actor/actress, sports figure or what you may be: NO ONE deserves a salary of 23 million dollars!

    That is just obscene...

    May 15, 2012 at 1:17 pm | Report abuse |
  3. wonderabout

    Seriously???? No one human deserves that kind of money for being a failure! We've got millions of people who can't even find a job that pays more than minimum wage and this dufus is worth what? Wow – no wonder our country is on the brink of economic collapse! ....

    May 15, 2012 at 1:18 pm | Report abuse |
  4. Allen R. Scott

    Why do we pay these people that much money No one is worth that much

    May 15, 2012 at 1:18 pm | Report abuse |
    • blueyeddevil

      I think they pay themselves.

      May 15, 2012 at 1:22 pm | Report abuse |
  5. David

    The CEO of ANY large, public company is completely expendable, and is the LEAST important part. If Dimon dropped dead tomorrow, his next in command would step over his body and assume command, with barely a hiccup (as it should be). None of these over-hyped, over-paid CEO's are worth this much... they get paid these high salaries because the compensation committee reports to the CEO! Have Chase's Comp Comm report to me, and I'll make that much money as well!

    I've also read virtually every book there is to read about the financial meltdown, and the common theme across all volumes is that these CEO's are not smart enough to understand the complexities of what goes on underneath them.

    Bottom line is that none of them are worth that much money.

    May 15, 2012 at 1:18 pm | Report abuse |
  6. Muriel Rogers

    Truman said it, "The buck stops here." And he assumed responsibilty for anything his administration did. Dimon can apologize all over the block but he is ultimately in charge of whatever was going on in JP Morgan Chase's "Risky Business" department. After all, he knew his company had spent millions lobbying for the loophole that let this fiasco happen in the first place. I don't want any of my money going toward his $23M pay package.

    May 15, 2012 at 1:19 pm | Report abuse |
  7. Marian

    In one word...NO. I haven't met or known of one person alive who is worth that kind of money. That's what is wrong with our economy and society....greed. We don't need to be a Socialist governed people with a Robin Hood mentality. We just need to be fair. If everyone subscribed to a basic recipe for success more people would be successful. Here is the recipe: 1) Always do the best you can do; 2) Always do the right thing (as opposed to "doing it right"); 3) Treat others the way you want to be treated. Now that might seem puritan but that's because there is so much disrespect, political correctness and downright evil in this world. No more words!

    May 15, 2012 at 1:19 pm | Report abuse |
  8. richard young

    no one deserves that kind of money

    May 15, 2012 at 1:19 pm | Report abuse |
  9. Chuck

    He desrves whatever the Board of Directors choose to pay him. That's capitalism. It's rediculous to ask.

    May 15, 2012 at 1:20 pm | Report abuse |
    • Anand

      Your spelling is "rediculous" (sic).

      May 15, 2012 at 1:26 pm | Report abuse |
  10. Steve

    I thought he lost 2 Billion? They should subtract it from his pay and create a debt to be repaid for the difference. That's what the banks do to us.

    May 15, 2012 at 1:20 pm | Report abuse |
  11. Charlie

    Funny Most of the people Working at McDonald's are not worth $3 per hour. Yet we have people with no clue giving opinions on how much a CEO is worth.

    May 15, 2012 at 1:20 pm | Report abuse |
    • Louis

      spoken like a true idiot 1%'er we know your the only one worth big pay so go sit in the corner with your 1 friend and be quite...

      May 15, 2012 at 1:23 pm | Report abuse |
  12. Rita

    HE SHOULD GO TO PRISON. HE SHOULD PAY BACK EVERY CENT. THE GREED HAS TO BE STOPPED.

    May 15, 2012 at 1:20 pm | Report abuse |
    • Anand

      hmm... I think prison is a bit harsh. I also think you should turn off Caps Lock in future posts.

      May 15, 2012 at 1:27 pm | Report abuse |
  13. Louis

    What could he possibly need that much money for you can only count it so many times before that gets old. This is why there is class warfare no person whoever it is NEEDS that much money.....

    May 15, 2012 at 1:21 pm | Report abuse |
  14. Rich

    A modest raise, maybe, but $23MM is absolutely too much for any executive. All executive pay is getting out of hand. Their pay should be proportional to their company's performance and should reflect their company's stock price with reasonable upper lower caps to compensated for market variations that may not be related to performance.

    May 15, 2012 at 1:21 pm | Report abuse |
  15. Laurie

    No way does he deserve 23 million. They should show him the door and make him pay back some of that money on the way out.

    May 15, 2012 at 1:21 pm | Report abuse |
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