ECONOMICS - Top Bank Execs Took Their First Pay Cut In Three Years In 2012

Executive pay for top bank chiefs dropped 10% last year, according to a report from the Financial Times. The heads of 15 banks netted $11.5 million on average in 2012, the first pay cut for the masters of the universe in three years. From the FT: Last year's fall in pay coincides with an average drop in net income by more than a fifth across those 15 lenders. But it also comes amid a share price recovery in the sector, with all but two of the ban ...

http://www.businessinsider.com/top-bankers-10-pay-cut-last-year-2013-