Goldman Sachs CEO Solomon gets 24% pay bump to $31 million, HR News, ETHRWorld

By Lananh Nguyen

Goldman Sachs CEO David Solomon was awarded $31 million in compensation for 2023, up 24% from $25 million in 2022, the company said in a filing on Friday.

Solomon’s pay comprises a $2 million base salary, unchanged from the previous year, and a bonus of $8.7 million in cash and $20.3 million in performance-linked stock, the bank said.

The pay bump comes after the bank’s profit fell 24% to $8.52 billion in 2023.

“The Compensation Committee believes that the actions of senior management were critical to reorienting the firm with a much stronger platform for 2024 and beyond,” Goldman disclosed in its regulatory filing, in reference to the pay hike.

Among peers on Wall Street, JPMorgan Chase CEO Jamie Dimon’s compensation climbed 4.3% in 2023, while Morgan Stanley’s former CEO James Gorman earned 17% higher in the same period.

(Reporting by Lananh Nguyen in New York; Editing by Arun Koyyur and Shinjini Ganguli)