Goldman Sachs CEO Solomon gets 24% pay bump to $31 million
Reuters
Published Feb 16, 2024 12:00PM ET
Updated Feb 16, 2024 12:57PM ET
By Lananh Nguyen
(Reuters) -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 (NYSE:JPM) 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.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.