Surprised not to see this on here yet. I guess it doesn't fit the "I hate Charlie" narrative. Maybe Charlie is finally coming around.
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Charlie is a shitebag who is pocketing 24 MILLION DOLLARS a year to buttfu(k this company into the fu(king ground. He deserves to be sh-t upon in a jail cell.
Based on the year end, review processes and comp calibration; do you think he deserves a “meets” expectations. I think not seeing as repaid one of the highest fines to the CFPB ever. Legacy issues that should’ve been resolved already. Per policy this is not meeting expectations and therefore why should he be entitled to a raise.
You also have to factor in the fact that Solomon is taking a multi million dollar pay cut.
I think another factor would be that he may jump ship come the end of this year. If you check the SEC website, you can see the offer letter and it looks like he is position to leave after five with a very nice long term incentive package. This is all speculation on my part, but it seems to make sense at the same time. I predict he leaves by the end of the year.
Busey here, simple explanation
Asset Cap still in place
Stigmatized Reputation
Selling out Mortgage/Correspondence
Yeah, he deserves 0%
I don't know his equity compensation, but it would surely dwarf his base pay. At his level, base pay is kind of irrelevant compared to his stock-based compensation.
@rsj+1kTjPia2
Many have been predicting a severe economic downturn. It may not have to do with layoffs that are pending. It just looks bad, in general, to be one of the CEOs who take a hike in pay.
When JP Morgan did this, did anyone really think it would be any different? They are still grossly overpaid and this is just for looks. It’s a superficial “sacrifice”. This isn’t the result of doing anything for the good of any of us or the customers.
Yawn, NEXT.
I wound love to make $24.5 Mill per year( his total comp for 2022) and not take a raise for the rest of my life.
That’s equivalent to saying you no longer hate a thief, who steals from you all throughout the year because “he stole a little less this time”, knowing full well he’ll take twice as much down the road.
It would be beneficial to the bank to have an inspirational CEO whom we all respected, trusted and admired.
LOL - I hope he can survive while planning how many people are going to continue being laid off
Based on the established norm he’d have to go 9 more years without a raise to be in line with the rest of the company after last years 20% bump. Assuming he’s a “consistently meets” that is.
Seeing as he’s been trending more towards “inconsistently meets” though I’d say it’s probably more like 15 years.
A 2% raise for him would be near $500K, so I'm okay with his not getting one.
Charlie’s already sucked the marrow from the bone and is looking for the exit before the bill comes. This act of “austerity” is just a smokescreen to cover his backside while he tries to slip out the door and stick us with the check.🤦🏻♂️
Yeah, what an inspiration he is not taking a raise this year (after taking a 20% increase the year before while giving his employees a 1-3% increase if they were lucky). G T F O H
Financial Services CEO pay is being REDUCED across many other companies. Not taking a raise is not the same as having your salary REDUCED.
And, think to yourself, if he’s gonna pass on a raise, why do you that would be? Huge cuts coming, that’s why! He’s setting himself up to look not “that bad”.
Mo--ns learning the word "narrative" from their grifters has been one of the worst developments of the last few years.
LOL!!!!
Needed the laugh. Many thanks OP.
Even if he reduced his salary to nothing, the previous excesses of pay, current stock options, etc would carry him and his family through a few lifetimes. Nothing altruistic about taking a pay cut, there was already a gigantic gaping gap between C-suite and everyone else below.
Despite this there is no envy, he pays an intangible cost for his role.