Bank of America lifts Moynihan’s pay 17% to $41 million for 2025

Bank of America Corp. raised Chief Executive Officer Brian Moynihan’s pay to $41 million for 2025, a year in which the second-largest US bank improved its profit but stock performance fell short of peers.

The board granted Moynihan an unchanged base salary of $1.5 million and no cash bonus, “consistent with prior years,” along with equity incentive awards totaling $39.5 million, according to a regulatory filing Friday. A year ago, Moynihan’s compensation was increased 21% to $35 million after the bank was able to boost its earnings. 

Moynihan’s new pay package follows a year in which Bank of America reported net income of $30.5 billion, up 13.1% from 2024. The Charlotte, North Carolina-based lender is focused on increasing revenue while also keeping expenses in check, using technology, including artificial intelligence, to contain costs. 

In determining Moynihan’s pay, the bank said its board acknowledged his “leadership in driving growth for shareholders,” including “disciplined expense management,” according to the filing.

Moynihan, one of the longest-serving heads of a large US bank, has signaled his interest in staying on for years to come. The 66-year-old CEO steered the lender throu...