Goldman Sachs raised COO pay by 78%

Goldman Sachs Group Inc President and Chief Operating Officer John Waldron’s total compensation for 2021 was $33 million. This is up nearly 78% from a year earlier. This was disclosed by the Wall Street bank in a regulatory filing.

The compensation consisted of $1.85 million in base salary, $12.46 million in annual variable cash compensation and $18.69 million in equity-based pay. Waldron had earned $18.5 million for 2020. This is after his compensation was slashed by $7 million for the bank’s role in the 1MDB scandal. Top executives at the bank took a pay cut to settle legal costs related to the corruption scandal.

The bank disclosed in January that the Chief Executive Officer David Solomon was awarded a total compensation of $35 million for 2021.

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