The Globe and Mail reports in its Wednesday, March 18, edition that CIBC increased former chief executive officer Victor Dodig's compensation in 2025, in line with rising profits across Canada's major banks. The Globe's Stefanie Marotta writes that most top executives in the sector saw pay raises, as noted in recent annual proxy circulars, with CIBC posting an increase for Mr. Dodig as a new CEO took over. Mr. Dodig made $17.18-million, a 26-per-cent increase from $13.61-million a year earlier. Mr. Dodig's 2025 pay ranked him second among the six big bank CEOs, after Royal Bank of Canada's Dave McKay, who earned $23.76-million. Mr. Dodig's bonus of $3.12-million compared with 2024's annual incentive of $2.42-million. CIBC gave him stock awards of $12.48-million, compared with $9.68-million in the prior year. CIBC beat the financial targets in its bonus plan, posting adjusted earnings per share of $8.61, surpassing its target of $7.99. Base salary makes up a minor portion of a CEO's compensation. Canada's banks set targets for CEOs' annual pay, which includes bonuses and stock awards. The banks then adjust the pay based on their results. The 2025 figures are for the banks' fiscal years, which ended Oct. 31.