The Need for Pay Ratio Disclosure
Jamie Dimon received $27 million in total compensation in 2014. See Proxy Statement, JP Morgan Chase, April 8, 2015, at 58. On the "say on pay" vote, 38.7% of the shares voting on the matter opposed the pay package. The Current Report on Form 8-K disclosing the results is here. Dimon was reported to have criticized shareholders, calling them lazy. While he was doing this, JP Morgan announced it was laying off 5000 employees. The article is here. Perhaps the lazy shareholders and the departing employees would like to see the pay ratio between Dimon and the median employee. That might help put his compensation into a more meaningful perspective.