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Flagstar Financial CEO Joseph Otting earned $34.8 million in 2024, far and away topping all other Long Island’s publicly traded executives and earning 464 times the median pay of the bank’s workers, according to a Newsday analysis of SEC filings.
Otting’s package was largely stock-based, including $31.5 million in options set to vest over three years.
Flagstar dominates the list of top earners. Three of the 10 highest-paid executives — and five of the top 12 — are at the Hicksville-based bank, which emerged from a 2024 crisis that included layoffs of about 700 employees and the closure of roughly 60 branches.
Other top earners include Timothy C. Gokey of Broadridge Financial Solutions ($14.3 million), Ivan Paul Kaufman of Arbor Realty Trust ($12.1 million), and Stanley M. Bergman of Henry Schein Inc. ($11.6 million). Newsday notes that stock awards make up a large share of most top packages, highlighting the widening gap between executives and average workers.
Top 10 highest-paid Long Island executives
Below are the 10 highest-paid executives at publicly traded companies based on Long Island. Click here for Newsday’s full database of corporate paychecks at these companies.
- Joseph M. Otting, Flagstar Financial — $34.8M
- Timothy C. Gokey, Broadridge Financial Solutions — $14.3M
- Ivan Paul Kaufman, Arbor Realty Trust — $12.1M
- Stanley M. Bergman, Henry Schein — $11.6M
- Conor C. Flynn, Kimco Realty — $10.9M
- Dan Bodner, Verint Systems — $10.8M
- James Francis McCann, 1-800-FLOWERS.COM — $8.1M
- Lee Matthew Smith, Flagstar Financial — $7.1M
- William John Miller, Veeco Instruments — $6.9M
- Richard A. Raffetto, Flagstar Financial — $6.7M
Top photo: Pexels/John Guccione
