Bank of America directors quietly give themselves salary bump

Do they really think they deserve a raise? GEESH… The economy hasn’t improved and neither have BofA’s stock prices…to any significant value.

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Most board members in June received restricted stock worth approximately $36,000, meaning that even the lowest-paid board member will now make nearly $280,000 a year.

A bank spokesman pointed out that most of its board members haven’t received a raise since 2006 and that their responsibilities have increased greatly since then. Bank of Americaboard members earn more than the median pay for other companies in the S&P 500, but their base pay was less than that of directors at some other big banks.

Read on.

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