Goldman Sachs CEO David Solomon's compensation rose 24% to $31M in 2023 amidst bank's net income drop and revenue decrease, following scaling back of retail-banking ambitions.

Goldman Sachs CEO David Solomon's total compensation increased by 24% to $31 million in 2023, despite a 26.5% drop in the bank's net income and a 2.3% decrease in total revenue. The increase in compensation came after Goldman Sachs scaled back its retail-banking ambitions and refocused on business lines similar to those pursued by Solomon's predecessors. Solomon's compensation package includes a $2 million base salary and $29 million in variable compensation, with $20.3 million of that in the form of restricted stock units.

February 16, 2024
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