FRB: Annual Report 2009, Statistical Table 13: Number and Annual Salaries of Officers and Employees of the Federal Reserve Banks, December 31, 2009

13. Number and Annual Salaries of Officers and Employees of the Federal Reserve Banks, December 31, 2009
Federal Reserve Bank (including branches)	President¹	Other Officers		Employees			Total
	Salary (dollars)²	Number	Salaries (dollars)²	Number		Salaries (dollar)²	Number	Salaries (dollars)²
	Salary (dollars)²	Number	Salaries (dollars)²	Full-time	Part-time	Salaries (dollar)²	Number	Salaries (dollars)²
Boston	320,900	66	12,856,083	744	39	63,516,351	850	76,693,334
New York	410,780	368	85,714,443	2,560	43	254,511,210	2,972	340,636,434
Philadelphia	344,700	58	10,181,633	800	24	55,718,901	883	66,245,234
Cleveland	341,600	57	9,983,500	1,243	22	74,310,639	1,323	84,635,739
Richmond	339,600	80	13,563,800	1,369	27	97,233,037	1,477	111,136,437
Atlanta	302,800	82	15,758,280	1,594	23	111,022,816	1,700	127,083,896
Chicago	308,400	88	15,923,876	1,167	50	93,685,889	1,306	109,918,165
St. Louis	276,800	75	13,394,150	826	35	57,805,258	937	71,476,208
Minneapolis	308,400	48	8,421,035	932	53	62,801,655	1,034	71,531,090
Kansas City	374,400	71	13,256,500	1,099	15	70,636,359	1,186	84,267,259
Dallas	344,700	62	10,568,805	1,067	9	68,950,312	1,139	79,863,817
San Francisco	410,800	76	16,026,698	1,547	17	127,616,719	1,641	144,054,217
Federal Reserve Information Technology	…	43	7,580,500	862	1	81,892,180	906	89,472,680
Office of Employee Benefits	…	9	2,140,500	35	0	3,218,346	44	5,358,846
Total	4,083,880	1,183	235,369,803	15,845	358	1,222,919,672	17,398	1,462,373,355

Note: Components may not sum to totals because of rounding.

1. Under current policies, appointment salaries are normally 85 percent of the salary-range mid-point (an 85 compa-ratio), with the exception of the New York Reserve Bank president, whose appointment salary normally is set at a 95 compa-ratio. The Board has discretion to approve a higher starting salary if requested by a Reserve Bank's board of directors. On January 1 each year, all presidents receive salary increases equal to the percentage increase in the mid-point of their respective salary ranges. In addition, on every third-year anniversary of his or her initial appointment (through year 9), each president receives a salary increase that results in a compa-ratio as follows: year 3: 95 (for the New York Bank: 105); year 6: 105 (New York: 115); year 9: 115 (New York: 125). There are tiered salary ranges for Reserve Bank officers, including presidents, reflecting differences in the costs of labor in the head-office cities. The Board reviews Reserve Bank officer salary ranges and Reserve Bank placement in the salary tiers annually. In 2009, New York and San Francisco were in tier 1, which had a mid-point for presidents' salaries of $432,400. Boston, Philadelphia, Chicago, Minneapolis, and Dallas were in tier 2, which had a mid-point for presidents' salaries of $362,800. Cleveland, Richmond, Atlanta, St. Louis, and Kansas City were in tier 3, which had a mid-point for presidents' salaries of $325,600. Salaries for Reserve Bank officers, including presidents, are limited by compensation caps established for each tier. In 2009, the caps were $431,300 for tier 1; $419,600 for tier 2; and $400,000 for tier 3. Return to table

2. Annualized salary liability (excluding outside agency costs) based on salaries in effect on December 31, 2009. Return to table

... Not applicable. Return to table