Home / NEWS / Finance / Goldman Sachs CEO David Solomon gets a 20% raise to $27.5 million for his work in 2019

Goldman Sachs CEO David Solomon gets a 20% raise to $27.5 million for his work in 2019

Goldman Sachs CEO David Solomon got a 20% uplift to $27.5 million for his work leading the bank in 2019.

His pay package includes a $2 million annual salary, $7.65 million in a sell bonus, and $17.85 million in performance-linked stock units, the New York-based company disclosed Friday in a filing. 

The bank maintained that Solomon earned a raise from his 2018 compensation of $23 million because he “successfully executed on his prerogatives in his first full year” leading Goldman, including unveiling a strategic overhaul at the firm’s first investor day in January.

“He led our situation of the firm’s three-year business plan and a clear long-term strategy that leverages our foundational advantages, enhances the resolve’s long-term mindset and instills a culture of innovation,” the bank said.

He also “excelled as a skilled spokesman for the firm both internally and externally,” the business said.

Solomon was named CEO in October 2018. The bank said last year that some of his 2018 father rewards were subject to clawback, depending on the results of an investigation into the bank’s 1MDB scandal.

The bank disclosed scrap about any potential clawback in the Friday release except to say that it determined it wasn’t necessary to include a similar viands for Solomon’s 2019 pay package. 

Separately, the bank said that because of the coronavirus pandemic, its April 30 shareholder assignation would occur over the internet instead of at the firm’s headquarters.

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