What to know
Bank of America boosted Chief Executive Brian Moynihan's annual compensation by 17% to $41 million for 2025, rewarding robust trading gains, wealth management asset inflows, and effective capital management through a shifting interest rate cycle.
Further reading and standardsCHARLOTTE, N.C. — Bank of America Corp. has increased the total annual compensation of Chairman and Chief Executive Officer Brian Moynihan by 17% to $41 million for his leadership throughout fiscal year 2025, according to a filing with the U.S. Securities and Exchange Commission (SEC). The pay hike marks one of the highest packages awarded in Moynihan's 16-year tenure at the helm of the second-largest U.S. banking institution.
What Happened: Details of the $41 Million Pay Package
The board's compensation committee structured Moynihan's $41 million package to align heavily with long-term shareholder returns. His base salary remained steady at $1.5 million, while his equity incentive award reached $39.5 million:
Crucially, Moynihan received zero cash bonus for the seventeenth consecutive year. Half of the equity grant is composed of Performance Restricted Stock Units (PRSUs) that vest only if Bank of America hits stringent three-year return on assets (ROA) and return on tangible common equity (ROTCE) targets, while the remainder vests over four years.
Earnings Rebound: How BofA Navigated Higher Interest Rates
The compensation decision follows a year of notable operational recovery for Bank of America. After weathering paper losses on low-yielding securities purchased during the pandemic, BofA generated $26.8 billion in net income in 2025, up 7% year-over-year:
- Wealth Management Dominance: Merrill Lynch and BofA Private Bank attracted more than $92 billion in net new organic client assets, lifting total client balances above $4.2 trillion.
- Investment Banking Surge: Advisory and underwriting fees surged 28% as corporate mergers and initial public offerings rebounded across North America.
- Deposit Discipline: Average deposit balances stabilized at $1.9 trillion, insulating net interest income from volatile monetary swings.
Wall Street Hierarchy: How Moynihan Compares to Banking Peers
Moynihan's pay increase brings his earnings into closer parity with top Wall Street leaders who benefited from the capital markets renaissance:
JPMorgan Chase CEO Jamie Dimon was awarded $39 million, while Morgan Stanley's Ted Pick received $35 million in his first full year as CEO. Goldman Sachs chief David Solomon received $39 million. Moynihan's $41 million award signals the board's deep confidence in his "responsible growth" strategy, which avoids excessive balance sheet leverage in favor of compounding retail and commercial banking franchises.
What to Watch Next: Succession Planning and Capital Returns
As Moynihan, 66, approaches nearly two decades leading the banking powerhouse, two themes dominate Wall Street scrutiny:
First is succession planning. While Moynihan has reiterated his intention to remain CEO into the late 2020s, top executives such as CFO Alastair Borthwick and Global Wealth head Eric Schimpf are seen as prime internal contenders. Second, Bank of America enters 2026 with an excess Common Equity Tier 1 (CET1) capital ratio of 11.9%, paving the way for expanded share repurchases and dividend increases.
Further reading
Use these official collections to explore the subject and confirm time-sensitive figures against the dated record.
