(NEW YORK) -- Citigroup Inc. CEO Vikram Pandit will get an enormous salary increase after the company reported a $10.6 billion profit in 2010.
Pandit announced in Feb. 2009 that he would only receive $1 a year until the firm's profit margin was once again favorable. Citigroup shares jumped 43 percent in 2010, following tremendous losses during the worst of the recession in 2008 and 2009. The 54-year-old's base salary is now $1.75 million.
Pandit's pay raise follows similar increases for chief executives at Morgan Stanley and JPMorgan Chase & Co.
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