Goldman Sachs Group Inc. CEO David Solomon received his biggest pay hike so far in 2025, with his total compensation rising 21% to $47 million, according to a Bloomberg report. The sharp increase comes as Goldman Sachs’ stock performed strongly under his leadership.
The Goldman Sachs Group, Inc. is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered in Lower Manhattan in New York City. Goldman Sachs is one of the largest investment banks in the world by revenue.
Solomon Earns More Than JPMorgan CEO Jamie Dimon
In 2025, David Solomon’s pay surpassed that of JPMorgan Chase CEO Jamie Dimon, whose compensation increased 10.3% to $43 million. Both Solomon and Dimon had earned $39 million each in 2024, but Solomon moved ahead this year due to Goldman’s strong financial performance.
| Year | CEO | Company | Base Salary | Bonus & Incentives | Total Compensation | Notes |
|---|---|---|---|---|---|---|
| 2023 | David Solomon | Goldman Sachs | — | — | $31 million | As per Reuters |
| 2024 | David Solomon | Goldman Sachs | — | — | $39 million | Excludes $80 million retention award |
| 2025 | David Solomon | Goldman Sachs | $2 million | $45 million | $47 million | 21% increase, highest ever |
| 2024 | Jamie Dimon | JPMorgan Chase | — | — | $39 million | Same as Solomon in 2024 |
| 2025 | Jamie Dimon | JPMorgan Chase | — | — | $43 million | 10.3% increase |
Salary Breakdown: How Much Did Solomon Earn?
According to a filing with the US Securities and Exchange Commission (SEC), Solomon’s $47 million compensation package included:
- $2 million as base salary
- $45 million as bonuses, which included cash, shares, and carried interest
Solomon earned $39 million in 2024, excluding a separate $80 million retention award. He had earned $31 million in 2023, according to Reuters.
Why Did Goldman Sachs Increase Solomon’s Pay?
Goldman Sachs reported record management fees in its asset management business and record revenue in its banking and markets division under Solomon’s leadership. Strong results in the fourth quarter helped the bank beat Wall Street profit expectations, driven by a surge in dealmaking and trading activity.
In 2025, Goldman Sachs’ stock rose by nearly 54%, outperforming major rivals like Morgan Stanley and JPMorgan, though it still lagged behind Citigroup.
Who is David Solomon?
David Solomon, 64, joined Goldman Sachs as a partner in 1999 after working at Bear Stearns, according to Reuters. He steadily rose through the ranks and became CEO in 2018, succeeding Lloyd Blankfein. Solomon took over after Blankfein, who led the bank through the 2008 global financial crisis and its aftermath.
David is chairman of the Board of Directors and chief executive officer of The Goldman Sachs Group, Inc.
Previously, he served as the firm’s president and chief operating officer from January 2017 to September 2018. Prior to that, he was co-head of the Investment Banking Division from July 2006 to December 2016, and earlier in his career, he was global head of the Financing Group. He joined Goldman Sachs as a partner in 1999.
David is chairman of the Board of Trustees of Hamilton College. He also serves on the boards of The Robin Hood Foundation, NewYork-Presbyterian Hospital, the Paley Center for Media and the US Olympic & Paralympic Foundation.
David earned a BA in Political Science from Hamilton College.
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