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The Goldman Sachs CEO salary is a topic of great interest, especially considering the bank's immense influence on the global financial market.
David M. Solomon, the current CEO of Goldman Sachs, has been leading the company since 2018.
His annual salary is a staggering $20 million, a significant increase from the $2 million he earned in 2017.
CEO Compensation
David Solomon's total compensation as the CEO of Goldman Sachs has been consistently high over the past few years. In 2022, his total compensation was $40 million, with a salary of $2 million.
The company's earnings have also been substantial, with a record high of $18 billion in March 2022. However, the company's earnings have fluctuated over the years, ranging from $5 billion in June 2020 to $22 billion in September 2021.
Despite the fluctuations, David's compensation has remained relatively consistent with the company's performance. In 2021, his total compensation was $40 million, while the company's earnings were $21 billion.
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Here's a breakdown of David's compensation and the company's earnings over the past few years:
David's compensation is also above average for companies of similar size in the US market, with a total compensation of $26.67 million in 2023, compared to an average of $12.72 million for companies of similar size.
Leadership Team
The leadership team at Goldman Sachs is comprised of experienced professionals with a deep understanding of the financial industry. David Solomon, the Chairman and CEO, has been in his position for 6.3 years and receives a compensation package of US$26.67m.
The President and COO, John Waldron, also has 6.3 years of tenure and earns US$26.09m. This suggests that both Solomon and Waldron are highly valued by the company and are well-compensated for their roles.
Denis Coleman, the Chief Financial Officer, has been in his position for 3 years and earns US$18.57m. This is a significant amount, but it's worth noting that Coleman has less tenure than Solomon and Waldron.
Here's a breakdown of the leadership team's compensation:
The leadership team's compensation packages are substantial, but it's worth noting that some team members have less information available due to their position or tenure.
Frequently Asked Questions
Did Goldman Sachs CEO Solomon get a 24% pay bump to $31 million?
Goldman Sachs CEO Solomon did not receive a 24% pay bump to $31 million. His compensation package actually included a reward for leading a retreat from consumer lending, despite a 24% dip in net income.
Sources
- https://en.wikipedia.org/wiki/David_M._Solomon
- https://www.bankingdive.com/news/goldman-sachs-david-solomon-31-million-24-percent-boost-compensation-greensky-apple-card/707884/
- https://www1.salary.com/David-Solomon-Salary-Bonus-Stock-Options-for-GOLDMAN-SACHS-GROUP-INC.html
- https://www1.salary.com/GOLDMAN-SACHS-GROUP-INC-Executive-Salaries.html
- https://simplywall.st/stocks/us/diversified-financials/nyse-gs/goldman-sachs-group/management
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