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Asset Management

Raymond James Financial Executive Compensation (FY25)

RJF · St Petersburg, FL · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): February 23, 2026
365 figures on this page: 358 cited to the filing that reported them, 7 calculated from figures it prints. See the citations
Paul Shoukry, Chief Executive Officer, received $17,277,875 in total compensation for fiscal 2025, and Shoukry's total was 144.3% higher than the $7,071,716 reported for fiscal 2024. The disclosed chief executive pay ratio for fiscal 2025 is 153:1, against median employee compensation of $123,007. The say-on-pay proposal drew 94.7% of votes cast for or against in favor at the meeting held February 19, 2026 for fiscal 2025. The disclosed peer group includes Ameriprise Financial Inc., Bank of New York Mellon, Charles Schwab Corp., Edward Jones and Franklin Resources Inc., among others.
Chief executive, fiscal 2025
◇
Paul Shoukry
Median of the other named officers
$6,624,677
5 officers, excluding the chief executive
Latest say-on-pay support
=
February 19, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Paul Shoukry: $7,071,716 → $17,277,875 (144.3% higher)
Say-on-pay support: 89.4% → 94.7% (5.3 points higher)
CEO pay ratio: 194:1 → 153:1 (21.1% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Raymond James Financial's chief executive and what were they paid?
Paul Shoukry, Chief Executive Officer, received $17,277,875 in total compensation for fiscal 2025. Shoukry's total was 144.3% higher than the $7,071,716 reported for fiscal 2024.
What was Raymond James Financial's say-on-pay result?
The say-on-pay proposal drew 94.7% of votes cast for or against in favor at the meeting held February 19, 2026 for fiscal 2025.
Which companies are in Raymond James Financial's peer group?
The disclosed peer group includes Ameriprise Financial Inc., Bank of New York Mellon, Charles Schwab Corp., Edward Jones and Franklin Resources Inc., among others.
What is Raymond James Financial's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 153:1, against median employee compensation of $123,007.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Paul Reilly
Chair and Chief Executive Officer
◇◇◇———◇◇
Paul Shoukry
President and Chief Financial Officer
◇◇◇—◇—◇◇
James Bunn
President, Global Equities and Investment Banking
◇◇◇———◇◇
Tash Elwyn
President and Chief Executive Officer, Raymond James & Associates
◇◇◇———◇◇
Scott Curtis
President, Private Client Group
◇◇◇———◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Paul Reilly
Former Chief Executive Officer
Departed during or after this year
◇—◇—◇—◇◇
Scott Curtis
Chief Operating Officer
◇—◇—◇—◇◇
Tashtego Elwyn
President of Private Client Group
◇—◇—◇—◇◇
Paul Shoukry
Chief Executive Officer
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Paul Reilly
Former Chief Executive Officer
Departed during or after this year
◇—◇—◇—◇◇
Paul Shoukry
Chief Executive Officer
◇—◇—◇—◇◇
James Bunn
President of Capital Markets & Advisory
◇—◇—◇—◇◇
Scott Curtis
Chief Operating Officer
◇—◇—◇—◇— not reconciled
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Paul Reilly
Former Chief Executive Officer
Departed during or after this year
◇◇◇———◇◇
Paul Shoukry
Chief Executive Officer
◇◇◇———◇◇
James Bunn
President of Capital Markets & Advisory
◇◇◇———◇◇
Tashtego Elwyn
President of Private Client Group
◇◇◇———◇◇
Scott Curtis
Chief Operating Officer
◇◇◇———◇◇
Jonathan Oorlog
Chief Financial Officer
◇◇◇———◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
James E. BunnPSU◇◇◇—◇—◇
James E. BunnRSU◇——◇——◇
James E. BunnRSU◇——◇——◇
James E. BunnPSU◇◇◇—◇—◇
Jonathan W. Oorlog, Jr.RSU◇——◇——◇
Jonathan W. Oorlog, Jr.RSU◇——◇——◇
Paul C. ReillyPSU◇◇◇—◇—◇
Paul C. ReillyRSU◇——◇——◇
Paul M. ShoukryRSU◇——◇——◇
Paul M. ShoukryRSU◇——◇——◇
Paul M. ShoukryRSU◇——◇——◇
Paul M. ShoukryPSU◇◇◇—◇—◇
Paul M. ShoukryPSU◇◇◇—◇—◇
Scott A. CurtisRSU◇——◇——◇
Scott A. CurtisRSU◇——◇——◇
Scott A. CurtisPSU◇◇◇—◇—◇
Tashtego S. ElwynPSU◇◇◇—◇—◇
Tashtego S. ElwynRSU◇——◇——◇
Tashtego S. ElwynRSU◇——◇——◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Paul ReillyRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
James BunnPSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Paul ShoukryRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Jonathan OorlogRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Tashtego ElwynRSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Scott CurtisPSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Gordon L. Johnson
◇◇————◇
Cecily M. Mistarz
◇◇————◇
Jeffrey N. Edwards
Lead independent director
◇◇————◇
Marlene Debel
◇◇————◇
Roderick C. McGeary
◇◇————◇
Anne Gates
◇◇————◇
Benjamin C. Esty
◇◇————◇
Raymond W. McDaniel, Jr
◇◇————◇
Art A. Garcia
◇◇————◇
Raj Seshadri
◇◇————◇
Mark W. Begor
◇◇————◇
Paul C. Reilly and Paul M. Shoukry served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Lead independent director premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Ameriprise Financial Inc. AMP
  • Bank of New York Mellon BNY
  • Charles Schwab Corp. SCHW
  • Edward Jones symbol not shown
  • Franklin Resources Inc. BEN
  • Invesco Ltd. IVZ
  • Jefferies Financial Group Inc. JEF
  • LPL Financial Holdings Inc. LPLA
  • Northern Trust Corporation NTRS
  • State Street Corporation STT
  • Stifel Financial Corp. SF
  • T. Rowe Price Group Inc. TROW

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025February 19, 2026=◇◇◇
2024February 20, 2025=◇◇◇
2023February 22, 2024=◇◇◇
2022February 23, 2023=◇◇◇
2021February 24, 2022=◇◇◇
2020February 18, 2021=◇◇◇
2019February 20, 2020=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Raymond James Financial disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Raymond James Financial sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
365 figures on this page: 358 cited to the filing that reported them, 7 calculated from figures it prints.
358 cited to the filing
7 calculated from the filing

Documents cited

  1. 0000720005-26-000041
    2. Advisory vote on executive compensation.
  2. 0000720005-26-000019
    CEO Pay Ratio · Director Compensation Overview · Director Compensation Table for 2025 · Grants of Plan Based Awards for Fiscal · and 4 more sections
  3. 0000720005-25-000039
    2. Advisory vote on executive compensation.
  4. 0000720005-25-000008
    Summary Compensation Table for Fiscal · Summary Compensation Table for Fiscal 2024
  5. 0000720005-24-000023
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0000720005-24-000007
    Summary Compensation Table for Fiscal 2023
  7. 0000720005-23-000027
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0000720005-23-000011
    Summary Compensation Table
  9. 0000720005-22-000014
  10. 0000720005-21-000017
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0000720005-20-000017
    Item 5.07 Submission of Matters to a Vote of Security Holders
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Raymond James Financial executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/RJF (accessed 2026).
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Asset Management rankings

Chief executive pay — Asset ManagementCEO pay ratio — Asset ManagementSay-on-pay support — Asset Management

Peers Raymond James Financial discloses

The companies named in RJF's own disclosed peer group.

Ameriprise Financial Inc.Bank of New York MellonCharles Schwab Corp.Franklin Resources Inc.Invesco Ltd.Jefferies Financial Group Inc.Northern Trust CorporationState Street CorporationT. Rowe Price Group Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy