Bank of America's Moynihan Gets Pay Boost

Bank of America's newly christened CEO Brian Moynihan will get a $150,000 raise in 2010, bringing his salary to $950,000, according to a regulatory filing.
By Lauren LaCapra ,

CHARLOTTE, N.C. (

TheStreet

) --

Bank of America

(BAC) - Get Report

outlined base salary increases of 17% for its chief executive and 60% for two other top bankers on Tuesday.

The sums don't include bonuses or stock options, so they are not a full portrait of what newly christened CEO Brian Moynihan, and his two deputies will be earning this year. However, Moynihan will be getting a $150,000 bump in assured pay, to $950,000 for 2010. His predecessor, Ken Lewis, who had been at the bank for several decades, had received $50,000 more in base salary.

Joe Price will receive $800,000, up from $500,000 in 2009. Price recently moved from the CFO position to take over Moynihan's former job as president of consumer, small business and card banking.

Barbara Desoer, who oversees home loans and insurance, will receive the same.

Pay has become a touchy subject in the financial industry as firms have returned to profitability on the back of taxpayer bailouts. Big banks like B of A,

Goldman Sachs

(GS) - Get Report

,

Citigroup

(C) - Get Report

,

JPMorgan Chase

(JPM) - Get Report

,

Morgan Stanley

(MS) - Get Report

, which all returned their TARP dollars, have had to answer heated questions about pay packages, as have still-struggling firms like

American International Group

(AIG) - Get Report

,

Fannie Mae

(FNM)

and

Freddie Mac

(FRE)

.

Bank of America shares closed up 1.2% at $15.60 on Tuesday.

-- Written by Lauren Tara LaCapra in New York

.

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