Citigroup Inc. lifted Chief Executive Officer Jane Fraser’s total compensation to $34.5 million for 2024 — up a third from the previous year — as she continues to drive a plan for higher returns at the Wall Street bank.

Citigroup said on Tuesday it had set Chief Executive Officer Jane Fraser's 2024 compensation at $34.5 million. The compensation includes $1.5 million of base salary, $4.95 million in cash incentive and the rest in deferred incentives,

Fraser’s pay, the vast majority of which comes in stock-linked awards, is up from the US$26 million she received for 2023.