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Bank of America has approved a total compensation package of $41 million for CEO Brian Moynihan for 2025, marking a 17.1% increase from the previous year. The pay raise reflects the bank’s strong financial performance and continued growth under Moynihan’s leadership.
Moynihan, 65, has led Bank of America since 2010, making him one of the longest-serving chief executives in the U.S. banking industry. He took charge during a turbulent period following the 2008 financial crisis and has since overseen a significant turnaround at the nation’s second-largest bank.
According to a regulatory filing, Moynihan’s compensation includes a $1.5 million base salary, with the majority awarded through equity-based incentives. In 2024, he received $35 million in total compensation. The bank cited robust financial results, employee-focused initiatives, and philanthropic efforts as key reasons for the pay increase.
Bank of America reported that its 2025 profit surged to $30.5 billion, up from $27 billion the previous year. The bank also exceeded fourth-quarter profit estimates, driven by strong trading activity during volatile market conditions and higher net interest income. Shares of Bank of America climbed approximately 25% over the year, marking the third consecutive year of gains.
In addition to executive compensation, the bank announced approximately $1 billion in equity awards for employees, excluding senior management. This initiative marks the ninth straight year that Bank of America has provided equity incentives to staff.
Executive pay across Wall Street has risen broadly following a strong year for dealmaking and trading. Citigroup CEO Jane Fraser earned $42 million, Wells Fargo CEO Charlie Scharf received $40 million, and JPMorgan Chase CEO Jamie Dimon was paid $43 million. Goldman Sachs CEO David Solomon earned $47 million last year, while Morgan Stanley CEO Ted Pick received $45 million.
As major U.S. banks prepare for another potentially strong year in investment banking and trading, they continue to navigate complex regulatory and political dynamics in Washington.
