Goldman Sachs staffers fume over paltry bonuses after CEO David Solomon’s eye-popping $39M payout
Goldman Sachs staffers are griping about getting paltry bonuses — despite a massive raise given to CEO David Solomon after the bank posted its best earnings in three years, The Post has learned.
Rank and file at the Wall Street giant fumed that end-of-year payouts, revealed internally two weeks ago, looked chintzy following a much-hyped revival in dealmaking last year, according to several Goldman workers who were interviewed by The Post.
“My typical bonuses have been 50% of base or more for all the years I have been with Goldman,” said one veteran banker who requested anonymity. “This time it is nowhere close.”
Meanwhile, the bank announced on Jan. 17 that CEO Solomon — who turned 63 on the same day — received a whopping $39 million in compensation for 2024, up a staggering 26% from the previous year.
The trader declined to give further details on pay amid fears of being identified, but called Goldman a “cult” that strings “us along by promising us promotions or money.”
Goldmanites likewise griped about the $80 million golden handcuffs bonus that will be paid out to Solomon if he sticks around for another five years.
By comparison, Solomon’s Wall Street rival, JPMorgan CEO Jamie Dimon, was paid $39 million last year and received a $50 million retention bonus in 2021 to stay in the top job until next year.
Anger inside the firm’s 200 West Street headquarters in Lower Manhattan had already reached a boiling point on Jan. 16, the day before Solomon’s package was disclosed when some staffers clocked out early to protest at the skimpy payouts, two sources told The Post.
Some Goldman employees claimed that top brass had trimmed compensation for the rank-and-file to help boost the bank’s quarterly and full-year earnings.
“There’s a lot of frustration, anger, and disappointment. It feels demotivating when leadership seems more focused on external perceptions than internal morale,” the first source said.
https://nypost.com/2025/01/27/business/goldman-staffers-gripe-over-bonuses-after-d-sols-eye-popping-39m-payout/