Jan 23 (Reuters) – Goldman Sachs said on Friday CEO David Solomon’s total annual compensation rose 20.5% to $47 million for 2025, higher than JPMorgan Chase CEO Jamie Dimon’s pay package announced on Thursday.
Solomon’s compensation as the head of one of the most prominent Wall Street banks in the U.S. included a base salary of $2 million and $45 million in annual variable compensation.
He was paid $31 million in 2023 and $39 million in 2024.
Goldman capped a strong year with its fourth-quarter results last week, where its profit beat Wall Street expectations, driven by a surge in dealmaking and trading.
It also expressed optimism for investment banking in 2026, a development that bodes well for the bank.
A more accommodating regulatory stance under U.S. President Donald Trump, coupled with lower interest rates and ample liquidity, has encouraged companies to step up dealmaking. This has helped investment banks such as Goldman Sachs rake in gains.
Under the stewardship of Solomon, who was once rejected by Goldman for a job straight out of college, shares of the bank gained 53.5% in 2025, outperforming the broader market index and most of its banking peers.
He joined the bank as a partner in 1999 after leaving Bear Stearns and rose through the ranks to eventually succeed Lloyd Blankfein, who led Goldman through the 2008 financial crisis and its aftermath.
(Reporting by Arunima Kumar and Pritam Biswas in Bengaluru; Editing by Shreya Biswas)
