Larry Fink, the head of the world's largest asset manager, received a raise of about eight percent in 2015.

Larry Fink BlackRock Chairman and Chief Executive Officer

On Friday, in a filing with the SEC, BlackRock [profile] revealed that Fink earned $26 million in total compensation last year. Reuters and the Wall Street Journal reported on the BlackRock CEO's pay raise, though BlackRock's own method of calculating Fink's compensation estimates that his pay remained unchanged from 2014.

Fink's 2015 compensation breaks down as follows: a $12.285 million long-term incentive award as part of the BlackRock Performance Incentive Plan (BPIP), an annual incentive award that included $8.72 million in cash (BlackRock had the option of paying up to $10 million in cash bonus) and $4.095 million in deferred equity, and a base salary of $900,000. BlackRock president Rob Kapito $19.985 million in total compensation, about $6 million less than Fink.

BlackRock earned net income of about $3.3 billion in 2015, so Fink's total compensation translates into 0.03 percent of the company's net income. Or, put another way, BlackRock had $4.6 trillion in AUM at the end of 2015, so Fink's pay amounts to about 0.0006 percent of AUM. 

Edited by: Neil Anderson, Managing Editor


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