Goldman Sachs vs JPMorgan Chase 2025
JPMorgan Chase wins for most investors with 48% larger assets, 52% higher profitability, and more stable diversified revenue, while Goldman Sachs excels in pure investment banking market share.
Goldman Sachs Group, Inc.
Leading global investment bank and wealth manager specializing in M&A advisory, trading, and private wealth.
Institutional investors and high-net-worth individuals seeking pure investment banking and wealth management expertise; portfolio investors wanting exposure to capital markets without retail banking exposure.
JPMorgan Chase & Co.
Diversified financial services megabank with leading positions in consumer banking, commercial banking, asset management, and investment banking.
Conservative investors seeking a defensive megabank holding; savers and borrowers wanting comprehensive financial services; dividend investors wanting stability and consistent capital returns.
JPMorgan Chase wins for most investors with 48% larger assets, 52% higher profitability, and more stable diversified revenue, while Goldman Sachs excels in pure investment banking market share.
Deciding factor: $84.5 billion annual revenue vs $55.6 billion, with 15.2% ROE demonstrating superior capital efficiency
Key fact: JPMorgan's $3.7 trillion in total assets (2025) is 48% larger than Goldman's $2.5 trillion, making it the safer systemic choice for conservative portfolios
JPMorgan Chase is the better choice for investors seeking a diversified, systemically important megabank with superior scale, profitability, and lower volatility across multiple business lines. Choose Goldman Sachs if you prioritize pure-play investment banking exposure, trading expertise, and wealth management for ultra-high-net-worth clients without retail banking drag.
Choose Goldman Sachs Group, Inc. if
Institutional investors and high-net-worth individuals seeking pure investment banking and wealth management expertise; portfolio investors wanting exposure to capital markets without retail banking exposure.
Choose JPMorgan Chase & Co. if
Best pickConservative investors seeking a defensive megabank holding; savers and borrowers wanting comprehensive financial services; dividend investors wanting stability and consistent capital returns.
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Key Differences at a Glance
- Total Assets:✓ JPMorgan Chase & Co. wins($3.7 trillion (2025) vs $2.5 trillion (2025))
- Annual Net Revenue:✓ JPMorgan Chase & Co. wins($84.5 billion (2024) vs $55.6 billion (2024))
- Return on Equity:✓ JPMorgan Chase & Co. wins(15.2% (2024) vs 11.8% (2024))
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Key Facts & Figures
8 numeric metrics compared
| Metric | Goldman Sachs Group, Inc. | JPMorgan Chase & Co. | Ratio |
|---|---|---|---|
| Total Assets(USD Trillions) | $2.5T | $3.7T | |
| Annual Net Revenue(USD Billions) | $55.6B | $84.5B | |
| Return on Equity(Percent) | 11.8% | 15.2% | |
| Dividend Yield(Percent) | 2.1% | 2.8% | |
| Net Income(USD Billions) | $6.5B | $12.8B | |
| Global Headcount(Thousands) | 49K | 316K | |
| Assets Under Management(USD Trillions) | $2.7T | $4.3T | |
| M&A Advisory Market Share(Percent) | 13.2% | 11.8% |
Sourced from publicly available data ·
Key Differences
7 attributes compared head-to-head
- $2.5 trillion (2025)Total Assets$3.7 trillion (2025)(winner)
- $55.6 billion (2024)Annual Net Revenue$84.5 billion (2024)(winner)
- 11.8% (2024)Return on Equity15.2% (2024)(winner)
- 13.2% (2024)(winner)Investment Banking Market Share (M&A Advisory)11.8% (2024)
- 49,000 (2025)Global Employees316,000 (2025)(winner)
- Investment banking & wealth management-heavyCore Business FocusDiversified banking (retail, commercial, investment)
- 2.1% (2025)Dividend Yield2.8% (2025)(winner)
- Total Assets
Goldman Sachs Group, Inc.
$2.5 trillion (2025)
JPMorgan Chase & Co.
$3.7 trillion (2025)(winner)
- Annual Net Revenue
Goldman Sachs Group, Inc.
$55.6 billion (2024)
JPMorgan Chase & Co.
$84.5 billion (2024)(winner)
- Return on Equity
Goldman Sachs Group, Inc.
11.8% (2024)
JPMorgan Chase & Co.
15.2% (2024)(winner)
- Investment Banking Market Share (M&A Advisory)
Goldman Sachs Group, Inc.
13.2% (2024)(winner)
JPMorgan Chase & Co.
11.8% (2024)
- Global Employees
Goldman Sachs Group, Inc.
49,000 (2025)
JPMorgan Chase & Co.
316,000 (2025)(winner)
Full Comparison
| Attribute | Goldman Sachs Group, Inc. | JPMorgan Chase & Co. |
|---|---|---|
| Total Assets(USD Trillions) | $2.5T | $3.7T(winner) |
| Global Headcount(Thousands) | 49K | 316K |
| Annual Net Revenue(USD Billions) | $55.6B | $84.5B(winner) |
| Return on Equity(Percent) | 11.8% | 15.2%(winner) |
| Net Income(USD Billions) | $6.5B | $12.8B(winner) |
| Dividend Yield(Percent) | 2.1% | 2.8%(winner) |
| Assets Under Management(USD Trillions) | $2.7T | $4.3T(winner) |
| M&A Advisory Market Share(Percent) | 13.2%(winner) | 11.8% |
Goldman Sachs Group, Inc.JPMorgan Chase & Co.Pros & Cons
10 pros·6 cons across both
Goldman Sachs Group, Inc.
Pros
Cons
JPMorgan Chase & Co.
Pros
Cons
Frequently Asked Questions
5 questions
JPMorgan Chase is significantly larger. As of 2025, JPMorgan has $3.7 trillion in total assets compared to Goldman Sachs' $2.5 trillion—a 48% difference. JPMorgan also employs 316,000 people versus Goldman's 49,000, reflecting JPMorgan's diversified business model spanning consumer, commercial, and investment banking.
Goldman Sachs holds a stronger position in pure investment banking, controlling 13.2% of global M&A advisory market share versus JPMorgan's 11.8% (2024). However, JPMorgan generates more total investment banking revenue due to scale. Goldman Sachs is the choice for specialized advisory expertise, while JPMorgan offers more comprehensive solutions across corporate and institutional finance.
JPMorgan Chase is substantially more profitable. In 2024, JPMorgan generated $84.5 billion in net revenue versus Goldman's $55.6 billion, and $12.8 billion in net income versus $6.5 billion. JPMorgan's return on equity was 15.2% compared to Goldman's 11.8%, reflecting better capital efficiency and diversified revenue streams.
JPMorgan offers better risk-adjusted returns for most investors, with superior profitability (15.2% ROE), higher dividend yield (2.8%), and diversified revenue reducing volatility. Goldman Sachs appeals to investors seeking pure-play investment banking exposure and willing to tolerate higher earnings cyclicality. JPMorgan is the defensive choice; Goldman Sachs is more cyclical.
JPMorgan is a diversified megabank with balanced revenue from consumer banking (45%), commercial banking (20%), and capital markets (35%). Goldman Sachs is investment banking-centric, deriving 60%+ of revenue from investment banking and capital markets operations, with limited retail banking. This makes JPMorgan counter-cyclical across economic phases, while Goldman Sachs' earnings correlate tightly with M&A and trading activity.
Resources & Learn More
Curated sources to dive deeper
Wikipedia
- W
Goldman Sachs Group, Inc. on Wikipedia (opens in new tab)
Leading global investment bank and wealth manager specializing in M&A advisory, trading, and private wealth.
- W
JPMorgan Chase & Co. on Wikipedia (opens in new tab)
Diversified financial services megabank with leading positions in consumer banking, commercial banking, asset management, and investment banking.
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