Goldman Sachs has quietly named CEO David Solomon the early 2025 compensation leader among Fortune 500 companies, with double-digit increases ahead of JPMorgan’s Jamie Dimon and Disney’s Bob Iger.
While not all Fortune 500 companies have released executive pay for 2025, banking CEOs like Solomon and Dimon are among the early winners. Perhaps the most jaw-dropping salary cut belongs to Starbucks CEO Brian Niccol sees pay drop significantly in 2025 after taking $96 million in upfront pay in 2024 four months of work.
The double-digit pay raises on Wall Street came as six of the largest U.S. banks, including Goldman Sachs and JPMorgan Chase & Co., posted combined profits of $157 billion, an 8% increase that marked the industry’s best year since the pandemic. this wall street journal report.
CEO pay at some of the largest U.S. companies has grown steadily between 2010 and 2023, a survey shows study Provided by Pay Governance, an independent consultancy that advises remuneration committees. However, compensation for S&P 500 CEOs will slow down by 2024, growing only 5% compared to 14% in 2023. Still, as of 2024, the median total compensation (including base salary, bonuses, and long-term incentives) for S&P 500 CEOs is $17 million.
Here’s how Fortune 500 CEOs were paid last year, based on available data.
Highest-Paid Fortune 500 CEO: David Solomon
Goldman Sachs increased Solomon’s compensation to $47 million in 2025, a 21% increase from $39 million in 2024. According to a report, the executive’s compensation includes a base salary of $2 million and another $45 million in variable compensation. Archive and the Securities and Exchange Commission. Salomon’s variable compensation consists of $10.1 million in cash, $31.5 million in performance-related stock and $3.4 million through a carried interest plan.
although Members of both parties have Criticism of carried interest plans They have been standard practice in private equity and venture capital for years as a strategy to avoid high taxes, and are increasingly popular with banks and asset managers. Carrying interest is usually taxed at capital gains rates, which usually top out at 20%, rather than the income tax rate, which tops out at 37%.
Goldman Sachs last year Announces its carried interest program. Under this structure, Salomon’s compensation is tied in part to the long-term performance of certain alternative investments managed by the firm.
Solomon’s compensation reached $47 million, surpassing Dimon. Their salaries will be the same in 2024. Dimon, who has been CEO of JPMorgan Chase for more than a decade longer than Solomon’s tenure at Goldman Sachs, has long been the default benchmark for top banking CEO pay.
Jamie Dimon: Big pay raise, but not the biggest
JPMorgan Chase raised CEO Dimon’s 2025 compensation by more than 10% to $43 million, making him among the highest-paid CEOs on Wall Street.
The longtime CEO’s compensation includes $1.5 million in base salary and $41.5 million in variable incentive compensation, according to SEC data Archive. Dimon received $5 million in cash as part of variable compensation, with the bulk of his compensation ($36.5 million) tied to performance-linked stock known as performance share units (PSUs).
JPMorgan Chase had previously raised Dimon’s salary to $39 million in 2024, an increase of about 8.3% from $36 million in 2023, after reporting record profits.
While Dimon’s compensation is astounding, it’s still significantly less than Solomon’s $47 million, despite the fact that he has been the industry’s most prominent and often highest-paid CEO for years.
Although Dimon has been CEO of JPMorgan Chase since 2006, he has often dodged questions about when he would step down. Although he changed his tone in 2024 and said succession planning was “well underway,” he Restored Returning to his oft-repeated response at a U.S. Chamber of Commerce event earlier this month, he was five years away from retirement.
Bob Iger: The story behind Disney’s succession
Disney CEO Bob Iger’s 2025 salary rose 11.5% to $45.8 million, second only to Solomon and ahead of Dimon. Archive and the U.S. Securities and Exchange Commission. While Iger still received a double-digit percentage raise, his salary had previously risen by about 30% between 2023 and 2024, the filing shows.
Iger’s salary includes a base salary of $1 million, with variable compensation accounting for the majority of his massive salary. His performance-related stock awards are about $21 million, while option awards are $14 million. Remaining variable compensation includes non-equity incentive plans valued at $7.25 million. Iger also received $2.6 million in “other compensation,” which included Iger’s personal air travel on company aircraft and security expenses.
Iger’s raise comes as Disney searches for his successor. The Disney boss is in his second stint as CEO after taking over from former CEO Bob Chapek in 2022. The company said in its 2026 proxy statement that it plans to announce the appointment of Iger’s successor in 2026.
Starbucks CEO cuts salary
After ensuring one of the The largest compensation package in corporate America Jumped to Starbucks after serving as CEO ChipotleNicole’s reward falls back to Earth in 2025.
Nicol will make about $31 million in 2025, down from $96 million in 2024, when the company awarded him a large stock award of more than $90 million as part of a package to attract him to the position.
a july study The AFL-CIO found that Niccol earned approximately 6,666 times more than the average Starbucks employee salary due to his previous massive compensation.
Niccol’s $31 million in compensation includes $1.6 million in base salary, a $5 million bonus, $19.8 million in stock awards, $1.9 million in non-equity incentive plans and $2.5 million in “other compensation,” which includes Niccol’s $371,536 worth of “housing expenses” and $1.14 million in security costs. Archive and the U.S. Securities and Exchange Commission.