Goldman Sachs Boosts CEO David Solomon's Pay to $39 Million, Grants $80 Million Retention Awards to Solomon and COO John Waldron for Five More Years

Jan 17, 2025, 02:29 PM

Goldman Sachs has increased the compensation of its CEO, David Solomon, by 26% to $39 million for the year 2024, up from $31 million the previous year. Additionally, the firm has granted $80 million retention awards to both Solomon and COO John Waldron, signaling Solomon's commitment to stay at the helm for another five years. These retention awards are part of a strategy to ensure the continued leadership of Solomon and Waldron at the bank. The board's decision reflects an effort to maintain stability and momentum, as well as to secure a solid succession plan. The firm also introduced a new program to give its leaders a share of carried interest earned on private equity funds.