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Blankfein’s Big Bonus

NEW YORK — Lloyd Blankfein, the CEO of Goldman Sachs Group Inc., saw his 2010 compensation rise to $14.1 million from just over $1 million in 2009, according to an Associated Press analysis of data filed with regulators on Friday.

Blankfein received a salary of $600,000, a cash bonus of $5.4 million and stock awards of $7.65 million for the year. He also received perks worth $464,067, including $185,110 for the use of a car, $62,020 for medical and dental coverage and the rest for life insurance, tax planning and retirement contributions. In addition, he was granted restricted stock valued at $12.6 million, up from $9 million in 2009, which is not counted in the total annual package because the grants are paid out over a period of three years.

Though his salary is among the top-tier for U.S. executives, it is a fraction of what it was just a few years ago.

Blankfein was known as one of the highest paid CEOs, taking home a package worth $42.9 million in 2008. However, Goldman’s reputation took a beating during the financial crisis. Considered the leading Wall Street bank, Goldman has usually outdistanced its rivals with its trading and investment banking operations. But it was sharply criticized for its high compensation levels after it accepted a $10 billion government bailout during the financial crisis in 2008.


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