It’s hard to assess the compensation of top bank CEOs right now, as we don’t have full information yet.

The news only drips out as various pieces of compensation are disclosed at different times. Still, it’s interesting to note that Goldman Sachs CEO Lloyd Blankfein has received $7 million in restricted stock, which will vest over three years, though he can’t actually sell until 2017. That’s in addition to his $2 million in salary, which gives him a total of $9 million for his work in 2011. The big unknown is his cash bonus, which will be revealed later.

In 2010, he earned a total of $19 million  (valued at then stock prices) -- $5.4 million in cash, $12.6 million in restricted stock and other compensation. Back in 2007, recall that he brought home $68.5 million. For 2011, it’s safe to say he’ll be closer to his 2010 total than his 2007 total. Restricted stock wars are all the rage right now, as compensation committees have anointed them their method of choice, as they can make a case that such awards align individual interests with shareholder interests over time.

So should we read anything into the fact that Blankfein’s $7 million grant for 2011 is significantly less than this $12.6 million for 2010? That’s a hard call, and it would be best to reserve judgment until we see the size of the cash bonus, which one would think it will be smaller given the earnings and revenue woes.

In 2011, annual earnings were the lowest at the bank since 2008. Also in 2011, the bank posted only its second quarterly loss as a public company. Perhaps most importantly, the stock fell nearly 50 percent on the year, though much of that stemmed from macro factors. My sense is that he’ll get a cash bonus, but perhaps only a modest one.

For more:
- here’s an article from the FT

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