- Goldman Sachs CEO David Solomon’s 2025 pay rose about 21% to US$47 million, topping JPMorgan CEO Jamie Dimon’s roughly US$43 million package.
- Solomon’s compensation included a US$2 million salary plus mostly performance pay in cash, stock, and carried interest, reflecting strong results and a ~53% Goldman stock gain.
- Dimon’s 2025 compensation rose about 10% and consisted of a US$1.5 million salary and about US$41.5 million in incentives, supported by JPMorgan’s solid performance.
- Goldman also awarded Solomon and President/COO John Waldron US$80 million each in retention RSUs vesting over five years to reinforce leadership continuity.
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The most recent SEC filings indicate that David Solomon’s total compensation as Goldman Sachs CEO for 2025 totaled US$47 million, up about 20-21% from the US$39 million he earned in 2024. Included are a US$2 million base salary, around US$10 million in cash bonus, some US$31.5 million in stock, and carried interest of about US$3–4 million—this last component having been introduced more recently.
Key drivers behind Goldman’s decision to increase Solomon’s pay include: a strong financial performance across its banking and markets divisions, record fees in investment banking (notably from major transactions such as the EA and Wiz deals), a ~53.5% stock price gain in 2025, and improved profitability. Retention of top executive talent also played a role, with the firm enhancing its compensation framework—e.g. adding carried interest to mirror practices of asset management firms.
Comparatively, Jamie Dimon’s compensation for 2025 was roughly US$43 million, marking a ~10.3% increase from 2024. His package similarly includes US$1.5 million base salary and ~US$41.5 million in performance-based incentives. Dimon’s raise was justified by strong returns: revenue growth, sustained profitability (despite minor profit dip), and a robust stock performance (~34% rise) for JPMorgan.
The pay gap between Solomon (US$47 million) and Dimon (US$43 million) underscores Goldman’s upward trajectory in recent years. Goldman’s outperformance in dealmaking volumes and fees in 2025, alongside favorable regulatory headwinds and a revival in investment banking activity, likely contributed to this climb.
Strategically, the US$80 million retention awards for Solomon and John Waldron, vesting through 2030, indicate Goldman’s board intends leadership consistency—potentially smoothing any future transition. Waldron’s addition to the board is another signal that he is being groomed as eventual successor.
Open questions remaining include how sustained revenue and regulatory tailwinds will be going into 2026, whether the carried interest model will expand further among Wall Street banks, and how investor expectations around pay-for-performance will evolve, especially in light of public scrutiny of large CEO pay packages.
Supporting Notes
- David Solomon’s 2025 compensation was US$47 million, a 20.5–21% increase from US$39 million in 2024.
- Breakdown of Goldman package: US$2 million base; large variable compensation (cash, stock, carried interest) making up remainder.
- Goldman’s performance in 2025: ~53.5% stock gain; leading global M&A fee volume; strength in banking & markets; strong Q4 results.
- Jamie Dimon’s 2025 pay: US$43 million with ~10.3% increase; composed of US$1.5 million base plus ~US$41.5 million incentives.
- Goldman awarded an US$80 million retention restricted stock unit bonus to both Solomon and Waldron, vesting over five years (to January 2030), signaling long-term leadership intent.
- Performance justification cited for both CEOs: for Solomon, absolute & relative financial results, operating environment; for Dimon, stewardship, strong performance across business lines and financial metrics.