Wall Street's top players are getting low-balled.
Citigroup CEO Michael Corbat saw his pay cut 10 percent last year after the bank's profit fell by half, hurt by higher legal costs and a trading slump.
Corbat earned an estimated $13.1 million in 2014, including $3.5 million in deferred stock and a $1.5 million salary, down from $14.5 million in 2013, according to a financial filing on Friday.
Corbat's lower pay puts him in the same league with Bank of America boss Brian Moynihan, who saw his compensation cut to $13 million from more than $14 million the year before.
Both are well below the leading money men at Goldman Sachs and JPMorgan Chase.
So far, Goldman CEO Lloyd Blankfein remains the biggest earner among bank chiefs — and the only one to get a raise from the previous year. He raked in $24 million, up $1 million, in 2014.
The pay package for JPMorgan head Jamie Dimon was flat at $20 million, although he received $7.4 million in a cash bonus — his first since 2011.
Both bank stocks rose last year, thanks to an improving US economy. Goldman shares rose 9.4 percent last year, while JPMorgan climbed 7 percent.
Morgan Stanley hasn't released compensation figures for CEO James Gorman yet, but plans to do so in March, according to a person familiar with the bank's plans.
Morgan Stanley shares were up almost 24 percent in 2014.
In contrast, Citi stock performed the worst among its peers, rising just 3.8 percent.
Corbat's pay cut follows a tumultuous year for the bank, which was hit with a string of regulatory and legal costs and a year-end trading slowdown.
Citi struck a $7 billion deal with the Justice Department — one of the largest cash penalties ever — to settle an investigation into mortgage misdeeds.
There was also a surprise $2.7 billon charge related to a currency rigging probe that wiped out most of its fourth-quarter profits.
Adding insult to injury, Citi's board paid the head of institutional banking, James Forese, about $500,000 more than Corbat in 2014, including a $25,000 salary increase, filings show.
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