Discontinued — last reported Q2 '13
Compensation and benefits
Operating ExpensesGoldman Sachs Group Compensation and benefits decreased by 0.3% to $4.67B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 24.1%, from $3.76B to $4.67B. Over 4 years (FY 2021 to FY 2025), Compensation and benefits shows relatively stable performance with a 1.6% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
An increase relative to revenue may signal declining operational efficiency or aggressive talent acquisition, while a decrease may indicate cost-cutting or reduced performance-based incentives.
Detailed definition
The total cost of employee salaries, bonuses, stock-based compensation, and related benefits. As a labor-intensive indus...
Peer comparison
Standard operating expense metric for all large-scale service organizations.
is_compensation_and_benefitsHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $5.26B | $3.17B | $3.25B | $4.08B | $3.70B | $3.61B | $3.76B | $4.09B | $3.62B | $4.19B | $3.60B | $4.59B | $4.24B | $4.12B | $3.76B | $4.88B | $4.69B | $4.68B | $4.67B |
| QoQ Change | — | -39.8% | +2.5% | +25.8% | -9.5% | -2.4% | +4.4% | +8.7% | -11.5% | +15.7% | -14.0% | +27.3% | -7.5% | -2.8% | -8.8% | +29.7% | -3.9% | -0.1% | -0.3% |
| YoY Change | — | — | — | — | -29.8% | +13.9% | +16.0% | +0.2% | -2.1% | +16.1% | -4.3% | +12.1% | +17.2% | -1.6% | +4.4% | +6.3% | +10.5% | +13.5% | +24.1% |
Business Segments
Compensation and benefits at Other Companies
Frequently Asked Questions
- What is Goldman Sachs Group's compensation and benefits?
- Goldman Sachs Group (GS) reported compensation and benefits of $4.67B in Q4 2025.
- How has Goldman Sachs Group's compensation and benefits changed year-over-year?
- Goldman Sachs Group's compensation and benefits increased by 24.1% year-over-year, from $3.76B to $4.67B.
- What is the long-term trend for Goldman Sachs Group's compensation and benefits?
- Over 4 years (2021 to 2025), Goldman Sachs Group's compensation and benefits has grown at a 1.6% compound annual growth rate (CAGR), from $17.72B to $18.91B.
- What does compensation and benefits mean?
- The total cost of paying and providing benefits to the bank's employees.