Bank of America pays its CEO half as much as other Wall Street firms

Senior executives at a largest US lender Bank of America will not be paid cash bonuses for 2010 with the Chief Executive Brian Moynihan left without a base salary increase in 2011, reports the company in its securities filing.

The head of the largest U.S. bank by assets was paid $950,000 in 2010 base salary.

While the board of the bank did increase the base pay for other executives the board elected to defer much of Moynihan's compensation into long-term awards of stock and cash that more closely tie company performance to his pay.

The salaries for chief financial officer Charles Noski, investment banking chief Thomas Montag and consumer bank head Joe Price will rise to $850,000 in 2011 from $800,000, according to a filing with the Securities and Exchange Commission.

Moynihan can receive up to $9.1 million in restricted stock units that vest in 2014, if the bank meets certain performance requirements over the next 12 months, according to the filing.

The 2011 pay freeze leaves Moynihan's salary well below that of some of his chief Wall Street rivals, who have received raises recently.

On Friday, Goldman Sachs Group Inc tripled CEO Lloyd Blankfein's base salary to $2 million and awarded him $12.6 million in stock.