Stephen Hester, chief executive of Royal Bank of Scotland (RBS), has defended the pay received by staff of the bank at a hearing of the Treasury Select Committee.
However Mr Hester also made another revelation; that his parents feel he is paid too much.
"If you asked my mother and father about my pay they'd probably tell you it is too high. So even some people close to me have that view of bankers," he told the committee of MPs.
If Mr Hester can revitalize the 84 per cent state-owned bank, he could earn nearly £10 million over three years.
The bank has been in the public eye recently as it prepares to pay bonuses amounting to £1.5 billion to 22,000 investment bankers.
Mr Hester told MPs that although RBS used to pay bonuses in cash, it now pays a large amount of these in shares.
Northern Rock chief executive Gary Hoffman was also in the firing line of the committee after he revealed that the bank could pay substantial cash bonuses to leading executives.
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