Jane Fraser Salary Reaches $34.5 Million as Citigroup Rewards Strong Performance

Citigroup Inc © has substantially increased CEO Jane Fraser’s compensation package for fiscal 2024, reflecting the bank’s impressive operational turnaround and sustained profitability. According to regulatory filings submitted to the Securities and Exchange Commission, the Compensation Committee authorized a total pay package of $34.5 million for Fraser, marking a significant 33 percent jump from the prior year’s $26 million.

Breakdown of Jane Fraser’s Compensation Package

The CEO’s compensation structure comprises multiple components designed to align leadership incentives with shareholder interests. Fraser’s salary framework includes a base salary of $1.5 million, supplemented by $4.95 million in cash incentive compensation. The remaining portion consists of deferred stock awards valued at $11.55 million and performance share units (PSUs) worth $16.5 million, creating a balanced mix of immediate and long-term equity rewards.

This multi-layered approach reflects contemporary best practices in executive compensation, tying a substantial portion of Jane Fraser’s salary to sustained performance metrics and shareholder value creation.

Strong Financial Results Justify the Compensation Increase

The substantial raise in Jane Fraser’s salary directly correlates with Citigroup’s exceptional financial performance throughout fiscal 2024. The bank reported a 37 percent surge in full-year net income, reaching $12.7 billion, while revenues expanded by 3 percent to $81.1 billion. This improved profitability extended into the fourth quarter, where Citigroup posted net income of $2.9 billion compared to a net loss of $1.8 billion in the corresponding prior-year quarter.

Fourth-quarter revenues climbed to $19.6 billion, up from $17.4 billion previously, with total revenues excluding divestiture impacts reaching $19.58 billion—a 12 percent increase. The bank attributed these improvements to higher revenues combined with disciplined expense management and reduced credit costs.

Strategic Capital Allocation and Forward Outlook

Beyond the executive compensation decision, Citigroup’s board authorized a $20 billion share repurchase program, underscoring management confidence in the bank’s financial trajectory. The institution plans to execute $1.5 billion in common share repurchases during the first quarter of 2025.

Looking ahead, Citigroup projects reported revenues for 2025 in the range of $83.5 billion to $84.5 billion. The bank has established a return on equity target of 10-11 percent for 2026, reflecting management’s commitment to continuing return improvements over the medium term. These strategic initiatives demonstrate how the organization remains focused on delivering shareholder value while investing in leadership excellence.