How much top executives at Pacific Investment Management Co., better known as PIMCO, earn continues to fascinate Wall Street. But an article in Bloomberg View finally puts some data to the long-asked question.
Actual bonuses at Pimco are higher, much higher, than probably any outsiders previously believed. Based on news reports, public records and new data obtained by Bloomberg View, it appears that Pimco had a 2013 bonus pool for its 60 managing directors of almost $1.5 billion.
So how much did top executives make?
According to documents provided to Bloomberg View by someone with knowledge of Pimco's bonus policies, the numbers break down like this: Bill Gross earned $290 million as his year-end bonus for 2013. Mohamed El-Erian, Pimco's former chief executive officer and one-time heir apparent to Gross, received $230 million.
To put this is in perspective, the article included a chart of other top executives in the industry and found that Gross made about as much last year as all the other CEOs on the list combined.