Goldman and JPMorgan Bosses Get Raises Amid Battle for Dominance

Banks boost pay packages as they compete for top talent and market share.

Jan. 29, 2026 at 11:15am by Ben Kaplan

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The CEOs of Goldman Sachs and JPMorgan Chase received substantial pay raises in 2026 as the two banking giants continue to battle for dominance in the industry. Meanwhile, the Netherlands is scrapping bonus restrictions to help banks attract talent, while BNP Paribas plans to cut 1,200 jobs. The banking industry is also facing other challenges, including a probe into money laundering allegations involving sanctioned Russian billionaire Roman Abramovich and a lawsuit from former President Donald Trump.

Why it matters

The pay raises for the Goldman Sachs and JPMorgan Chase CEOs highlight the intense competition between the two banking powerhouses as they vie for top talent and market share. This battle for dominance has ripple effects across the industry, with other banks also adjusting compensation and staffing levels to stay competitive.

The details

JPMorgan Chase CEO Jamie Dimon received a $43 million pay package, while Goldman Sachs CEO David Solomon earned $47 million. This comes as the banks push their investment bankers to work harder to outperform the competition. Elsewhere, the Netherlands is scrapping bonus restrictions to help banks attract talent, while BNP Paribas plans to cut 1,200 jobs. The banking industry is also facing other challenges, including a probe into money laundering allegations involving sanctioned Russian billionaire Roman Abramovich and a $5 billion lawsuit from former President Donald Trump.

  • The pay raises for the Goldman Sachs and JPMorgan Chase CEOs were announced in January 2026.

The players

Jamie Dimon

The CEO of JPMorgan Chase, one of the largest banking institutions in the world.

David Solomon

The CEO of Goldman Sachs, a leading global investment bank.

Donald Trump

The former President of the United States, who is suing JPMorgan Chase for $5 billion.

Roman Abramovich

A sanctioned Russian billionaire who is the subject of a money laundering probe involving companies linked to him.

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What they’re saying

“We're referring to the expanding kerfuffle set off by Donald Trump, who formally added JPMorgan and Dimon to his contention that lenders debanked the once-and-again president after the Jan. 6 Capitol riot.”

— Rick Green (Bloomberg)

What’s next

The lawsuit filed by Donald Trump against JPMorgan Chase is expected to be a closely watched legal battle in the coming months.

The takeaway

The pay raises for the Goldman Sachs and JPMorgan Chase CEOs underscore the intense competition in the banking industry as the two titans vie for talent and market share. This battle for dominance is having ripple effects across the sector, with other banks adjusting compensation and staffing levels to stay competitive.