A group of 20 senior executives at Goldman Sachs is set to share a bonus pool reaching up to $500 million (£378 million). This massive payout represents one of the most significant compensation awards in the Wall Street firm’s history, acting as the culmination of a long-term incentive plan initiated by the bank in 2021. The $500m bonus pot is the culmination of a long-term investment plan first crafted by the bank in 2021. Particularly on Wall Street, the payouts are the latest in a string of large payouts for executives in the US.
Chief executive David Solomon is expected to receive approximately $100 million (£75.6 million) of the total, a figure more than double the $47 million (£35.5 million) annual pay package he was granted last year. Other senior leaders in line for compensation include the bank’s president, John Waldron, alongside the co-heads of global banking and markets, Ashok Varadhan and Dan Dees. With its chief executive, David Solomon, due to take about $100m (£75.6m) of the reward, which is made up of Goldman Sachs stock, the eye-watering sum will be shared between 20 bankers.
The specific value of these bonuses is tied to Goldman Sachs’ stock performance over the past five years, as well as its standing against industry peers like JP Morgan and Bank of America. During Solomon’s tenure as CEO, the firm’s stock has risen approximately 300%, with a 146% surge recorded over the last five years alone. It’s no secret our firm has performed exceptionally well in the years since.”.
A spokesperson for the bank stated that the board established these awards to align compensation with rigorous performance thresholds, ensure continuity in leadership, and bolster the retention of top talent in an increasingly competitive market. The bank plans to confirm the final payout amounts later this month, shortly after the company releases its third-quarter earnings on October 13. According to news of the bumper bonus, which was first, By Bloomberg, comes days before Goldman is due to report third-quarter earnings on 13 October.
This development follows a period of record-breaking executive pay across the financial sector. Earlier this year, Citigroup reported that CEO Jane Fraser received a record $42 million (£31.8 million) for 2025. Similarly, JP Morgan CEO Jamie Dimon earned $43 million (£32.5 million) last year—a 10% annual increase—and currently holds a separate long-term incentive award valued at approximately $270 million (£204.1 million).
