The Evolution of CEO Compensation in Major US Banks
The landscape of CEO compensation at leading US banks has witnessed a significant shift. In 2025, the CEOs of JPMorganChase, Wells Fargo, Goldman Sachs, and Capital One each received compensation packages of at least $40 million. This escalation in remuneration reflects a combination of competitive dynamics and a year of exceptional financial performance for these banks.
CEO Compensation: The Changing Dynamics
According to revealed pay details, all four CEOs — Jamie Dimon of JPMorganChase, Richard Fairbank of Capital One Financial, Charlie Scharf of Wells Fargo, and David Solomon of Goldman Sachs — experienced substantial year-over-year compensation increases, ranging from 10% up to a staggering 28%. Shaun Bisman, a partner at the consulting firm Compensation Advisory Partners, mentioned that $40 million appears to be the new benchmark for big-bank CEOs.
In the previous year, the compensation packages of these four executives ranged from $31 million to $39 million. The increase in pay has been attributed to strong financial outcomes and market dynamics, including jumps in stock prices and peer benchmarking. “Boards may be feeling pressure to offer competitive pay packages,” Bisman suggested.
In the following section, we provide an overview of the 2025 pay packages for each of the four CEOs, based on the banks’ regulatory filings and an analysis by Compensation Advisory Partners.
Charlie Scharf, Wells Fargo
Charlie Scharf of Wells Fargo saw his total compensation rise from $31.2 million in 2024 to $40 million in 2025, marking a 28.2% increase. The board of directors recognized Scharf’s role in liberating the company from regulatory restrictions, attributing the rise to his “strong leadership”.
His compensation package remained consistent with a base salary of $2.5 million, unchanged since 2019. However, the total variable compensation saw a rise from $28.7 million in 2024 to $37.5 million in 2025.
Scharf’s leadership had a significant impact on improving Wells Fargo’s financial performance, with a year-over-year uptick of 17% in earnings per share, a rise in revenues, and a return of a total of $23 billion to shareholders.
David Solomon, Goldman Sachs
David Solomon, the CEO of Goldman Sachs, received the highest pay among the four, with his compensation package rising by $8 million to a total of $47 million in 2025. The bank credited Solomon for “continued strong momentum in executing” on the bank’s strategic priorities and “improving the risk profile of the firm and enhancing the resilience” of earnings.
Richard Fairbank, Capital One Financial
Richard Fairbank of Capital One Financial saw his total compensation rise by 19.4% to $40 million in 2025. This increase in Fairbank’s pay came in the year when Capital One completed its blockbuster acquisition of Discover Financial Services.
Jamie Dimon, JPMorganChase
Jamie Dimon of JPMorganChase, one of the highest-paid bank CEOs for years, saw his compensation package rise by $4 million to a total of $43 million in 2025. The bank attributed this to Dimon’s stewardship of the firm, pointing to “strong performance” across business lines and “a fortress balance sheet.
As the banking industry progresses, it will be interesting to follow the trend in CEO compensation. The pay details for the CEOs of other large banks such as Citi, Bank of America, and Morgan Stanley are expected to be available soon, providing further insights into this evolving landscape.
Source: Here
