Bank of America’s boss Brian Moynihan received a 31 per cent pay rise last year, taking his total pay to $32m, says The Wall Street Journal.

His pay package consisted of $1.5m in base salary and $30.5m in restricted stock, half of which is tied to the lender’s performance over the next three years.

Moynihan’s pay for 2020 was cut to $24.5m due to the effect of the pandemic on the bank’s bottom line.

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However, Bank of America posted record- high profits of $32bn for last year, due to a flurry of deal-making activity, and the release of reserves that had been set aside to cover loan losses that never arose.

Tesla’s chief executive Elon Musk is set to receive stock awards worth at least $35bn over the next year, despite the recent slide in the share price of the electric carmaker, says The Times.

Under lucrative pay terms approved in 2018, Musk will receive share options in five tranches, entitling him to buy Tesla shares for $70.01 each.

The what current share price is around $930, valuing each tranche of shares at about $7bn.

The stock awards are conditional on performance and market value targets being met, of which Musk has already met several.

Severin Schwan and Vas Narasinmhan, CEOs of rival Swiss drugs giants Roche and Novartis, both earned around CHF11m (£8.8m) last year.

Schwan received almost CHF11.5m in total pay. His pay was four percent higher than in 2020.

Narasimhan took home CHF11.2m, an increase of eight percent on the previous year. His fixed pay came to CHF2.2m.

Kris Paterson is a writer for WhatJobs.com