| Federal Reserve Bank (including branches) | President1 | Other officers | Employees | Total | ||||
|---|---|---|---|---|---|---|---|---|
| Annual salary (dollars)2 | Number | Annual salaries (dollars)2 | Number | Annual salaries (dollars)2 | Number | Annual salaries (dollars)2 | ||
| Full-time | Part-time | |||||||
| Boston | 350,400 | 63 | 12,906,449 | 765 | 35 | 66,470,310 | 864 | 79,727,159 |
| New York | 410,780 | 406 | 94,432,384 | 2,534 | 42 | 256,567,921 | 2,983 | 351,411,085 |
| Philadelphia | 350,400 | 59 | 10,598,888 | 740 | 24 | 55,001,615 | 824 | 65,950,903 |
| Cleveland | 347,400 | 57 | 10,400,200 | 1,179 | 25 | 72,763,870 | 1,262 | 83,511,470 |
| Richmond | 347,400 | 78 | 13,534,900 | 1,339 | 30 | 100,683,036 | 1,448 | 114,565,336 |
| Atlanta | 314,400 | 87 | 17,491,030 | 1,523 | 16 | 111,098,660 | 1,627 | 128,904,090 |
| Chicago | 350,400 | 94 | 17,612,760 | 1,138 | 49 | 95,320,721 | 1,282 | 113,283,881 |
| St. Louis | 281,300 | 74 | 13,471,940 | 823 | 36 | 60,265,479 | 934 | 74,018,719 |
| Minneapolis | 313,500 | 48 | 8,485,225 | 912 | 51 | 63,334,083 | 1,012 | 72,132,808 |
| Kansas City | 380,500 | 71 | 13,102,500 | 1,108 | 14 | 73,171,732 | 1,194 | 86,654,732 |
| Dallas | 350,400 | 56 | 9,955,605 | 1,047 | 10 | 70,513,045 | 1,114 | 80,819,050 |
| San Francisco3 | 74 | 16,115,623 | 1,413 | 24 | 124,088,889 | 1,511 | 140,204,512 | |
| Federal Reserve Information Technology | ... | 49 | 8,721,500 | 863 | 1 | 84,200,812 | 913 | 92,922,312 |
| Office of Employee Benefits | ... | 11 | 2,631,525 | 35 | 1 | 3,417,805 | 47 | 6,049,330 |
| Total | 3,796,880 | 1,227 | 249,460,529 | 15,419 | 358 | 1,236,897,978 | 17,015 | 1,490,155,387 |
Note: Components may not sum to totals because of rounding.
1. Under current policy, appointment salaries are normally 85 percent of the salary-range midpoint (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.
Except as noted below, on January 1 each year, all presidents receive salary increases equal to the percentage increase in the midpoint 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). In 2011, all presidents' salaries are frozen at their December 31, 2010, levels.
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. Salaries for Reserve Bank officers, including presidents, are limited by compensation caps established for each tier. In 2010, the caps were $431,300 for tier 1; $419,600 for tier 2; and $400,000 for tier 3. In 2010, New York and San Francisco were in tier 1, which had a range midpoint for presidents' salaries of $432,400. Boston, Philadelphia, Chicago, Minneapolis, and Dallas were in tier 2, which had a midpoint for presidents' salaries of $368,800. Cleveland, Richmond, Atlanta, St. Louis, and Kansas City were in tier 3, which had a midpoint for presidents' salaries of $330,900. As noted above, salary midpoints are used to calculate presidents' compa-ratios. Return to table
2. Annualized salary liability (excluding outside agency costs) based on salaries in effect on December 31, 2010. Return to table
3. As of December 31, 2010, the San Francisco Bank's president position was vacant. Return to table
... Not applicable. Return to table