US investment bank Morgan Stanley has increased CEO James Gorman's compensation to $35 million.

For another year, Gorman leads the list of the best paid bosses of the big American banks.

Morgan Stanley has increased Gorman's salary by 6 percent for 2021 as the bank's profitability hit a new high for the fourth straight year.

His salary package includes a fixed salary of $1.5 million and a cash bonus of $8.38 million, the company said on Friday.

The majority of the package consists of $25 million in long-term awards, paid in shares and partially tied to return-on-equity and shareholder-return targets.

Other big American banks also pay their bosses handsomely: On Thursday, JPMorgan Chase announced a 10 percent salary increase for Jamie Dimon, taking his salary to $34.5 million.

Compensation on Wall Street has come back into focus this year.

Many bank executives may be allowed on larger raises.

Morgan Stanley has had its most profitable year, with profits of $15 billion on sales of about $60 billion.

The bank's shares are up 44 percent since the beginning of 2021, giving the company a market cap of around $175 billion.

This has increased the gap to Goldman to 55 billion dollars.

Last year, James Gorman replaced JP Morgan boss Jamie Dimon as the highest-paid CEO of America's major banks.

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