Citigroup's Vikram Pandit earned $14.8M in 2011

Citigroup Chief Executive Vikram Pandit testifies on Capitol Hill in Washington, Thursday, March 4, 2010, before the Congressional Oversight Panel hearing on Citigroup assistance under Troubled Asset Relief program (TARP). (AP Photo/Lauren Victoria Burke)
AP Photo/Lauren Victoria Burke

(AP) NEW YORK - Citigroup's (C) CEO Vikram Pandit received $14.8 million in total compensation for 2011, according to an Associated Press analysis of a regulatory filing.

The New York bank said Pandit's compensation included a salary of $1.6 million, a bonus of $5.3 million and stock options worth $7.8 million.

In February 2009, Pandit said he would accept a salary of $1 until the bank reported a profit. The bank nearly collapsed during the financial crisis.

In January, Citi reported its second full year of profits after Pandit took over as CEO in 2007.

The AP's executive pay calculation aims to isolate the value the company's board placed on the CEO's total compensation package. The figure includes salary, bonus, incentives, perks and the estimated value of stock options and awards.