Today we learned Jamie Dimon got a raise.
Dimon will now receive $US20 million in compensation for his 2013 performance — a 74% pay raise from his 2012 compensation package.
BI’s Linette Lopez offered an analysis this afternoon of what Dimon’s raise was all about: board members believed Dimon aced negotiations with Washington over the Justice Department’s lawsuits stemming from the financial crisis.
In an interview with the Wall Street Journal’s Anupreeta Das, Warren Buffett says Dimon is not getting paid enough.
“If I owned J.P. Morgan Chase, he would be running it and he would be making more money than the directors are paying him,” he told her.
Buffett has publicly defended Dimon previously, and said he personally owns JPM shares.
Buffett added that the firm was a “huge plus to the American financial system” during the financial crisis
“If Jamie decides he wants to make more money, all he has to do is call me and I’d hire him at Berkshire,” Buffett said.