Goldman Sachs’ CEO Gets ‘Only’ $9M Stock Bonus
February 6, 2010
(ChattahBox) – Well it isn’t exactly a lump of coal nor the miniscule 6 figures that were rumored, but Goldman Sachs’ CEO Lloyd Blankfein has announced he’s only taking a $9 million bonus this year. He got nothing last year.
Goldman’s board voted on the amount Friday, which in perspective is the smallest payout in the company’s history during a record year for profits. For 2009, Goldman reported a record profit of $13.4 billion. Goldman’s $16.2 billion compensation pool for 2009, which includes pensions and other benefits, translates to nearly $500,000 an employee. The board gave the same $9 million amount to Blankfein’s top lieutenants, and it’s all in stock compensation, not cash. Goldman has been under scrutiny for returning to high salaries after recovering from the credit crisis. But amid rising public anger over Wall Street pay, Blankfein’s $9 million falls far below the $17 million bonus given to J.P. Morgan Chase CEO James Dimon this year.