Goldman Sachs reported that CEO David Solomon’s total annual compensation rose by 20.5% to $47 million for 2025, up from $38 million in 2024. His package comprised a $2 million base salary and $45 million in annual variable compensation, marking a substantial increase over the $31 million he received in 2023. This pay rise places Solomon ahead of JPMorgan Chase CEO Jamie Dimon, whose 2025 package totaled $43 million, a 10.3% increase from the prior year.

In a bid to secure continuity at its New York headquarters, Goldman Sachs granted $80 million stock-based retention awards each to Solomon and President/COO John Waldron last year. These awards vest by January 2030, ensuring both executives remain at 200 West Street through that date. Waldron, 55, is widely viewed as Solomon’s eventual successor and could assume the CEO role when Solomon steps down.

Goldman shares climbed just over 53% during 2025, reflecting investor confidence in the bank’s recovery. In its fourth-quarter 2024 financial results, announced by Solomon, the firm outperformed analysts’ consensus forecasts. Investment banking fees and asset management revenues drove the beat, underscoring a rebound in M&A advisory and capital markets activity after a slow 2023.

Speaking on CNBC’s Squawk Box, Solomon expressed optimism about the bank’s growth trajectory, citing an improved environment for mergers, acquisitions and new listings. He pointed to potential regulatory relief under the current U.S. administration, which he said supports scaled consolidation and increased deal flow. Solomon also highlighted strong client engagement across global banking, markets, and wealth management businesses as pillars for future expansion.