A Barclays Bank executive earned £22m in salary, shares and bonuses last year, becoming the highest earner among firms in the FTSE 100 index.
Barclays announced a record pre-tax profit this year
The total pay for Bob Diamond, head of Barclays investment banking service, dwarfed chief executive John Varley's salary and bonus package.
Mr Diamond's basic salary was just £250,000 - with the rest made up of bonuses and cashed-in share options.
Barclays defended the pay, saying his division had been very successful.
The latest figures regarding Mr Diamond's pay were revealed in Barclays' 2006 annual report.
The earnings are far greater than those made by Mr Terry Leahy, who as head of Tesco, the UK's largest retailer, had a £4m package that included his salary, bonus and benefits last year.
On the other hand, the figure is less than that made by Philip Green in 2004. The owner of some of the UK's largest retailers, including British Home Stores, made £460m back then.
Mr Diamond's record earnings come soon after Barclays' posted a record pre-tax profit of £7.14bn in 2006 - up by 35% on the year before.
The firm's High Street banking division saw pre-tax profits rise 17% to £1.2bn - boosted by mortgages and savings accounts.
Following the results announced last month, Barclays chief executive John Varley said 2006 had been an "excellent year" and that it was "well-positioned for future growth".