David Solomon gets 80 sticks while junior bankers disappointed with comp
Sounds off lads. He strikes again. First you can’t go to surf lodge and now he’s taking your money. Rise up.
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Why’s David Solomon so special in the eyes of Goldman shareholders ? I’m sure they have many executive MDs that could replace him tomorrow morning in place
They do not - the CEO of a bank like GS is not the same as being a rainmaker MD or even a group head...
Hard to oust a CEO with the returns of GS stock over the past 5 year -- which is the sole reason the board has stayed committed. Plus, financing (DJSol speciality) being the main growth driver for the coming years
Dees, Waldron, Lyon - so many powerhouses that can take the throne
https://www.bloomberg.com/news/articles/2025-01-17/goldman-gives-john-w…
Waldron just got the same bonus as Solomon. It also seems the only level of loyalty Solomon has is to Waldron, who he rose up through the ranks with as both co-heads of IB and then now CEO/COO. Waldron will most likely succeed Solomon, but unlikely for him to coup Solomon given the historically cushy relationship. Waldron also didn't choose to coup Solomon and backed him when Solomon was looking like old news and hated by other senior partners. This is one of the rare cases of banking friendships or at least loyalty between two people at least outwardly.
GS could literally push people out the boardroom window during layoffs and prospects still apply in droves - until people stop simping for the brand, they can pretty much do whatever they want.
SB'd but it's not just applicants who simp for the brand.
More importantly are the CEOs and heads of corporate development that simp for the brand and put GS at the top of the league tables.
So to some extent it is circular, and if you subscribe to LindyMan's stuck culture thesis – the power of these big brands is not going away.
Laz ballin out
"you don't like it? leaveeeee"
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