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Goldman Sachs increased the salary of his boss, David Solomon, to $ 35m last year when the US bank made a profit on the Wall Street economy.
Solomon had made some money $ 17.5m for 2020, $ 10m less than a year earlier, after a bank cut the salaries of senior executives due to the 1Malaysia Development Berhad scandal, while Goldman admitted to bribing a Malaysian financial officer.
In a defense file on Friday, Goldman said Solomon had received a $ 2m salary increase in 2021, unchanged last year. His adjustable salary was $ 33m, plus a cash prize of about $ 10m and a reward of $ 23.1m linked to the bank’s performance.
In October, Goldman said it provided funding for operations $ 30m for Solomon with $ 20m in place of party President John Waldron. Prizes will be presented in October 2026.
Goldman this month also spoke of the 2021 profit of $ 21.2bn, doubling last year’s rate and easily the largest in the history of the bank.
However, Goldman said its fourth profit has dropped by 13 percent annually to $ 3.8bn as payroll plus bonuses jumped 31 percent to $ 3.2bn.
Mu interview by the Financial Times earlier this month, Solomon states: “There is no doubt that inflation has had a profound effect on the economy.”
Solomon’s 2021 salary was about the same as the one he received James Gorman, Chief Executive of Morgan Stanley, Goldman’s traditional investment bank rival. Jamie Dimon, chief executive officer of JPMorgan Chase, the largest U.S. bank and commodity, was paid $ 34.5m.
Gorman received a starting salary of $ 1.5m, a cash prize of $ 8.375m, $ 5.025m in the delay prize and a performance bonus of $ 20.1m. Dimon was paid a starting salary of $ 1.5m and a $ 33m performance bonus.
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