JPMorgan Chase & Co. increased CEO Jamie Dimon’s compensation to $39 million for 2024, a $3 million raise from the previous year, Bloomberg reports. The new pay package marks the highest earnings of Dimon’s career as head of the U.S. financial giant.

Dimon’s total compensation includes a base salary of $1.5 million and a performance-based bonus totaling $37.5 million.

In determining Dimon’s pay, the bank’s board considered both financial and non-financial performance indicators, as well as market competitiveness. The board acknowledged Dimon’s contributions to developing senior executives, commitment to shareholder interests, and exemplary leadership of the company, according to Bloomberg.

Jamie Dimon has led the largest U.S. bank by assets since 2006. In 2024, JPMorgan achieved record net income, while its share price rose 41% over the year.