Citigroup said on Tuesday it had set Chief Executive Officer Jane Fraser's 2024 compensation at $34.5 million. The compensation includes $1.5 million of base salary, $4.95 million in cash incentive and the rest in deferred incentives,

Citigroup's Jane Fraser was awarded $34.5 million for her work running the banking giant in 2024, a roughly 33% raise. The bank's board of directors said that Fraser is "promptly and thoughtfully" executing her vision to transform Citi.

Fraser’s pay, the vast majority of which comes in stock-linked awards, is up from the US$26 million she received for 2023.

The compensation includes $1.5 million of base salary, $4.95 million in cash incentive and the rest in deferred incentives, the bank said