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Goldman Sachs Cut David Solomon’s Pay to $25 Million in 2022 - WSJ

hank
edited January 2023 in Off-Topic
”Goldman Sachs Group Inc. Chief Executive David Solomon took a nearly 30% pay cut in 2022. Mr. Solomon received $25 million in total compensation last year, down from $35 million in 2021. His 2022 pay package consisted of a $2 million base salary, a cash bonus of $6.9 million and a $16.1 million stock award that is tied to how well the bank performs in the next few years, Goldman said in a regulatory filing. Mr. Solomon’s 2022 compensation reflects the bank’s performance compared with 2021, Goldman said in the filing. Profit fell 48% last year, and revenue declined 20%, largely due to a slowdown in corporate deal-making that had previously fueled blockbuster earnings.”

Excerpted from The Wall Street Journal - January 28, 2023

Comments

  • MarkMark
    From where most people sit financially in this world I'm betting that it's going to be hard scratching up any sympathy for Mr. Solomon and he'll manage to get by on just his base salary alone. However the paycheck cut does suggest that this economic downturn isn't over with yet.
  • Old_JoeOld_Joe
    My wife, having read about that, has informed me that she is not pleased with my overall performance last year either, and has also reduced my allowance to $25 million.

    Hard times!
  • AnnaAnna
    Poor guy. How will he ever get by. Maybe he will need to claim EITC. Which was a joke but we always hear about zillionaires paying zero taxes. If they show minimal taxable income do they qualify for government subsidies?
  • hank
    edited January 2023
    They should start charging people for all that free advice they’re always handing out for nothin. No wonder profits are slim. How can you make money giving stuff away?
  • Observant1
    edited February 2023
    Anna said:

    Poor guy. How will he ever get by. Maybe he will need to claim EITC. Which was a joke but we always hear about zillionaires paying zero taxes. If they show minimal taxable income do they qualify for government subsidies?

    Maybe he'll pick up a few extra DJ gigs this year to earn a little pocket money?
  • AnnaAnna
    Oh my:(
    Who wooda thuk?
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