Bank of America Lifts Moynihan’s Pay 21% to $35 Million for 2024

Bank of America Corp. boosted Chief Executive Officer Brian Moynihan’s pay to $35 million for 2024, a year in which the second-largest US bank boosted its earnings.

The board granted Moynihan a $1.5 million salary — unchanged from last year — and $33.5 million of performance-based incentive compensation, according to a regulatory filing. A year ago, Moynihan’s compensation was cut 3% to $29 million after profit fell and the firm’s shares performed the worst among its biggest rivals.