The median household income in the U.S. in 2016 was about $60,000.
The following year, Citibank’s CEO, Mike Corbat, received a 48% increase in compensation--$23
million. Goldman Sachs’ Lloyd Blankfein enjoyed a 9% rise, to $24 million. JP
Morgan Chase’s Jamie Dimon received $29.5 million.[1]
The sheer distance between the median and bank CEOs’ incomes not only begs the
question—were the executive compensations justified?—but also raises the
question—is such distance itself justified?
[1] “How
Good Were the Paydays for Bank Chiefs . . . and Shareholders?: DealBook
Briefing,” The New York Times,
February 16, 2018.
