This investment bank chief’s pay rose 21% to $47 million for 2025, beating JPMorgan CEO Jamie Dimon’s salary hike
According to a Bloomberg report, Goldman Sachs Group Inc. Its chief executive, David Solomon, saw his biggest pay increase ever, with the investment bank chief’s 2025 salary rising 21% to $47 million.
It was stated that this increase, which is David Solomon’s highest raise to date, occurred as Goldman Sachs shares rose under his leadership.
Notably, David Solomon beat out Jamie Dimon, CEO of JPMorgan Chase, America’s largest banker, in his 2025 salary, which rose 10.3% to $43 million. Both Solomon and Dimon earned the same amount ($39 million) in 2024.
Salary breakdown: How much did David Solomon earn in 2025?
Solomon’s $47 million compensation consists of $2 million in base salary and $45 million in bonuses (including cash, carried interest and shares), the report said, citing a company filing with the United States Securities and Exchange Commission (US SEC).
By comparison, the Goldman chief pulled in $39 million (plus an $80 million retention award) the previous year, reflecting a 21% increase in pay, he added.
He received $31 million in 2023, according to a Reuters report.
Why did Goldman Sachs raise CEO Solomon’s salary?
According to the Bloomberg report, the filing said Goldman generated record management fees in its asset management business and record revenue in its banking and markets division under Solomon’s leadership.
Strong Q4 results showed Goldman’s profits beat Wall Street expectations, driven by a surge in deal-making and trading. In 2025, the stock rose nearly 54%, putting it ahead of rivals Morgan Stanley and JPMorgan. It lagged behind Citigroup Inc.
This also comes after $80 million in retention awards for Solomon and Goldman Sachs Chairman John Waldron were approved by a shareholder vote in April. These shares will be transferred in January 2030. Waldron is seen as Solomon’s eventual successor.
Given the increase in stock prices, the value of retention award stocks has already increased since the grant date in January 2025.
Who is Goldman Sachs CEO David Solomon?
David Solomon, 64, joined Goldman Sachs as a partner in 1999, according to a Reuters report. He came to Goldman after a stint at Bear Stearns and rose to replace Lloyd Blankfein in 2018.
Blankfein had big shoes to fill as he was the chief who guided the lender through the 2008 financial crisis and its aftermath.
Waldren is now seen as Solomon’s successor, as he was invited to the board a month after receiving his retention bonus in 2025. The report stated that he was the second management committee member on the board after Solomon.
(With input from Bloomberg and Reuters)
