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Dimon's compensation, which includes his salary, bonus and stock options, is up 11 percent from year before.
JP Morgan CEO, Jamie Dimon, received over $23 million in compensation in 2011, up 11 percent from the previous year.
Wall Street's most profitable bank had its second straight year of record profit in 2011 with $19 billion in net income, said Bloomberg.
Dimon’s base salary was boosted to $1.5 million from $1 million last year, reported the Washington Post.
He also received $17 million in stock options with a $4.5 million cash bonus.
The Wall Street Journal said that Dimon's compensation is the highest among his banker peers.
Behind him is Bank of America CEO, Brian Moynihan, with $18 billion and Wells Fargo CEO, John Stumpf at nearly $20 million.
In October, Occupy Wall Street protestors marched to Dimon's home on the Upper East Side chanting "tax the rich."
On Wednesay, CNN reported that Dimon's annual letter to JP Morgan shareholders defended his firm's lobbying in Washington, saying that Congress is slowing down the American economic recovery and that it is important for the firm to stay engaged in policy debates.