By Stephen Gandel
March 29, 2014

FORTUNE — Last year was a good one for Morgan Stanley’s CEO James Gorman. On Friday, we got more confirmation of that.

According to a financial filing, Morgan Stanley (MS) paid Gorman $12 million for his work in 2013. That was double what the CEO got the year before. In addition to his 2013 compensation, Morgan Stanley also said Gorman was eligible to collect an additional $6 million for his work in 2013 if the firm meets certain goals by 2017.

Gorman’s $12 million pay included a base salary of $1.5 million, up from $800,000 a year ago. On top of that Gorman got $316,000 in cash bonus. The rest of his pay was made up from deferred compensation, half in stock and half in cash, that will pay out in the next three years.

MORE: Ex-JPMorgan banker took pay cut to join private equity firm

The other members of Morgan Stanley’s executive team got pay raises as well. Greg Fleming, who heads Morgan Stanley’s wealth management unit, and Colm Kelleher, who heads up Morgan’s investment bank, each got $14.5 million in total compensation, including long-term incentive pay. Both were paid $8.6 million the year before.

Despite the raise, Gorman still ranks below some of his peers in pay. Goldman Sachs (GS) CEO Lloyd Blankfein received a reported $23 million in pay for 2013. JPMorgan Chase (JPM) CEO Jamie Dimon was paid $20 million for 2013, up from $11.5 million the year before.

After a number of stumbles in 2012, including Morgan’s role in the bungled Facebook (FB) initial public offering, Gorman is widely viewed to have made significant advances in his bid to turn around Morgan Stanley. Last May, Fortune wrote a piece about how Gorman had turned things around at the firm, and for himself. Gorman has been vocal about getting Morgan Stanley out of some of Wall Street’s riskiest businesses, and about how Wall Streeters need to accept lower pay. Earlier this week, Morgan Stanley got a clean bill of health on the Federal Reserve’s stress test.

 

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