Donald Guloien, president and CEO, Manulife Financial Corp. (TSX:MFC) earned almost $14.5 million in 2014.

According to Manulife’s 2015 proxy circular released Friday, Guloien’s total compensation in 2014 was valued at $14,484,208, up from $12,763,549 in 2013.

His base salary rose from $1,216,641 in 2013 to $1,438,720 last year.

Share-based awards increased from $3,957,048 in 2013 to $5,274,666, while option-based awards increased from $2,650,032 in 2013 to $3,516,444 last year.

The remainder of Guloien’s 2014 compensation consisted of: annual incentives paid in cash, $3,329,088; pension value, $823,000; and other compensation, $101,890.