In the age of 10-digit salaries, Chief Executive of Citigroup Vikram Pandit continues with a compensation packet of $1 per annum.
Vikram Pandit, the India-born chief executive of Citigroup, will continue to take a salary of $1 a year, although the financial services firm has raised base salaries for two of its senior officials.
In early 2009, Mr. Pandit had said he would take a $1 base salary and no bonus till the banking major returns to profitability.
Citigroup had received $45 billion as federal bailout money in the beginning of the year. Although Citigroup has reported profits in the past two quarters, its continuing credit losses stands at $8 billion.
In a filing to the U.S. market regulator Securities and Exchange Commission, Citigroup said the 2009 annual base salary of Mr. Pandit has not been increased and it remains at $1 per year for the fiscal year 2009.