Barclays boss Bob Diamond could be in line for a £10 million payout in the forthcoming bonus season.
Reports suggest the chief executive - once dubbed the unacceptable face of banking by former business secretary Lord Mandelson - may receive seven-and-a-half times his £1.3 million salary in a share award, the Sunday Times said.
The payout to Mr Diamond, who in 2011 told MPs that the time for remorse from the banking sector was over, is far from certain as the bank's profits and shares have slumped in the last 12 months.
There are reports Mr Diamond has been asked by Vince Cable to temper the upcoming pay round, as a large payout would anger both ministers and the general public.
The reports come as Britain's biggest banks are due to unveil their bonus plans and annual results.
Elsewhere, Lloyds Banking Group chief executive Antonio Horta-Osorio announced he would pass over his bonus of up to £2.4 million following his two-month leave of absence and a rocky period for the banking giant.
Royal Bank of Scotland is expected to hand out up to £500 million to staff, with chief executive Stephen Hester in line for as much as £1.2 million.
In the US, several banks have already released their results and, with it, their bonus pot. JP Morgan Chase has announced a vast $18.9 billion pay pot.
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