This investment bank chief's pay rose 21% to $47 million for 2025, beating JPMorgan CEO Jamie Dimon's salary hike

Goldman Sachs Group Inc. CEO David Solomon saw his biggest pay hike yet, as the investment bank chief's compensation for 2025 jumped by 21% to $47 million, according to a Bloomberg report.

The hike — David Solomon's highest ever — comes as Goldman Sachs stocks soared amid his leadership, it added.

Notably, David Solomon beat America's largest banker, JPMorgan Chase's CEO Jamie Dimon's pay for 2025, which rose 10.3% to $43 million. Both Solomon and Dimon earned the same ($39 million) in 2024.

Salary breakdown: How much did David Solomon earn in 2025?

Solomon's $47 million worth compensation comprised $2 million as base salary, and $45 million of bonus (including cash, carried interest, and shares), the report said citing a company filing with the United States Securities and Exchange Commission (US SEC).

Comparatively, the Goldman chief pulled $39 million the previous year (plus $80 million retention award), reflecting an increase of 21% in salary, it added.

According to a Reuters report, he got $31 million in 2023.

Why did Goldman Sachs' give CEO Solomon pay hike?

The filing noted that Goldman posted record management fees in its asset-management business and record revenue in its banking and markets division under Solomon's leadership, the Bloomberg report said.

Strong Q4 results saw Goldman's profit beat Wall Street expectations, driven by a surge in dealmaking and trading. In 2025, the stock rose close to 54% leaping ahead of competitors Morgan Stanley and JPMorgan. It did stay behind Citigroup Inc.

It also comes after Solomon and Goldman Sachs President John Waldron's $80 million retention awards were approved by a shareholder vote in April. These shares will vest in January 2030. Waldron is being viewed as Solomon’s eventual successor.

Given the stock price rise, the value of the retention award stocks has already surged since their grant date in January 2025.

Who is Goldman Sachs CEO David Solomon?

Aged 64 years, David Solomon joined Goldman Sachs as a partner in 1999, the Reuters report added. He came to Goldman after a stint at Bear Stearns and rose through the ranks to eventually succeed Lloyd Blankfein in 2018.

He had big shoes to fill as Blankfein was the chief who steered the lender through the 2008 financial crisis and its aftermath.

Waldren is now viewed as Solomon's successor as he was invited to the board a month after being awarded the 2025 retention bonus. He is only the second member of the management committee, after Solomon, to gain a board seat, the report said.

(With inputs from Bloomberg and Reuters)