Here's just how rich the 10 U.S. richest bankers are — starting with the Wells Fargo CEO

Here's just how rich the 10 U.S. richest bankers are — starting with the Wells Fargo CEO
Source: Getty Images
Source: Getty Images

Wells Fargo CEO John Stumpf — whom Massachusetts senator Elizabeth Warren recently said should be "criminally investigated" over a scandal involving sham accounts — was the highest-paid banker in the country last year, according to an analysis of corporate filings from USA Today

Stumpf made $19.3 million last year. 

Let's put that in perspective: To earn that same amount, a "phone banker" (essentially a telephonic customer service agent) at Wells Fargo would have to work nearly 1.5 million hours at their $13-an-hour salary, per a job listing on Glassdoor.

That's about 500 years of eight-hour workdays — and no weekends.

Though Stumpf — whose bank was the subject of two major penalties from the Consumer Financial Protection Bureau in just two weeks this summer — came out on top of the top-paid list, JPMorgan's Jamie Dimon was close on this heels at number two.

Here's the full list of the 10 top-earning U.S. bankers:

1. John Stumpf — Wells Fargo CEO — $19.3 million
2. Jamie Dimon — JPMorgan Chase CEO — $18.2 million 
3. Matthew Zames — JPMorgan Chase COO — $17.6 million 
4. Mary Callahan Erdoes — JPMorgan Chase CEO of Asset Management — $17.1 million 
5. Daniel Pinto — JPMorgan Chase CEO of Corporate and Investment Bank — $16.7 million 
6. James Forese — Citigroup CEO Institutional — $16.2 million 
7. Thomas Montag — Bank of America COO — $14.8 million
8. Michael Corbat — Citigroup CEO — $14.6 million 
9. Brian Moynihan — Bank of America CEO — $13.8 million 
10. William Demchak — PNC CEO — $12.7 million 

As you can see, only half of those on the list were top-of-the-company CEOs. The rest are CEOs of specific divisions or serve as chief operating officers, who usually are placed in charge of handling day-to-day operations.

That might be a problem, as Eleanor Bloxham, chief executive officer of The Value Alliance, a firm that specializes in corporate finance, explained to USA Today.

When executives are farther away from the spotlight and scrutiny that a CEO faces, she said, they're more inclined to take bigger risks, especially when there's an enormous payday in their future.

How much do you trust the information in this article?

James Dennin

James is a staff writer covering money and millennials. Send your tips and your money problems to jdennin@mic.com.

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