By Pritam Biswas and Arunima Kumar
Jan 23 (Reuters) – Goldman Sachs said on Friday CEO David Solomon’s total annual compensation rose 20.5% to $47 million for 2025 after a strong year for the bank, making him one of the highest-paid chief executives on Wall Street.
His compensation eclipsed JPMorgan Chase CEO Jamie Dimon’s pay package of $43 million 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.
The board said in the filing it set the compensation after weighing the bank’s financial performance on an absolute and relative basis, as well as the 2025 operating environment and longer-term results.
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.
Talk of succession at Goldman has intensified after the bank named President and Chief Operating Officer John Waldron to its board a month after awarding him a 2025 retention bonus, reinforcing his status as a potential successor to Solomon.
Waldron joined Solomon, 64, as the second member of the management committee to gain a board seat, giving analysts a clearer view of the succession plan underway.
(Reporting by Arunima Kumar and Pritam Biswas in Bengaluru; Editing by Shreya Biswas)
