Goldman Sachs Awards $80 Million Retention Bonuses to Top Executives

Goldman Sachs has announced $80 million retention bonuses for CEO David Solomon and President John Waldron, ensuring their leadership for five more years

Goldman Sachs Awards $80 Million Retention Bonuses to Top Executives
Goldman Sachs Awards $80 Million Retention Bonuses to Top Executives

New York: Goldman Sachs is making headlines with its hefty pay packages for its top executives. CEO David Solomon’s compensation for 2024 jumped to $39 million, a 26% increase from last year. Alongside him, President John Waldron is also in line for a significant payday.

The bank’s recent filing revealed that both Solomon and Waldron received $80 million in restricted stock units, which will vest over five years. This move signals Goldman’s commitment to keeping these leaders in place for the foreseeable future.

Goldman’s board expressed that these retention bonuses are meant to ensure stability and continuity in leadership. They believe Solomon and Waldron have been instrumental in driving the firm’s strategic goals.

The pay increase comes as Goldman reported impressive financial results, with net revenues exceeding $53 billion for 2024. Their stock has also seen a remarkable rise, trading at about $619 per share, a 64% increase over the past year.

In addition to their salaries, Goldman is introducing a carried interest program for its top leaders, linking their pay to the performance of the bank’s alternatives business. This is part of a strategy to attract and retain top talent in a competitive market.

Overall, it looks like Goldman Sachs is betting big on its leadership, and they’re not shy about showing it.

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