By Justin Baer

Goldman Sachs Group Inc. awarded its chairman and chief executive, Lloyd Blankfein, salary and bonus worth up to $24 million for his performance in the past year.

The payout represents a 4% raise from a year earlier, and stands as Mr. Blankfein's biggest haul since the financial crisis.

Mr. Blankfein received 83,510 restricted shares, half of which are "subject to performance conditions" according to a regulatory filing. The stock, which vests over several years, is worth about $14.7 million.

Goldman delivered performance in 2014 similar to the previous year. Profit rose 5%, as revenue hovered around $34 billion for a third-straight year. Banner years by the firm's investment bankers and investment managers helped offset a trading slump that has dogged all of Wall Street.

Goldman typically pays out about 70% of its senior leaders' yearend bonuses in shares that vest over several years. This year, though, Mr. Blankfein received a slightly thicker slice of his payout in cash, a person familiar with the matter said. The $7.3 million cash bonus, along with a $2 million salary, bring his total pay to $24 million, the person added. The value of the package will fluctuate in the future based on Goldman's share price.

Mr. Blankfein received $23 million in salary and bonus for his 2013 performance, and remained eligible to collect another $6 million if Goldman hit certain targets over the next several years.

A year ago, Goldman awarded Mr. Blankfein 88,422 shares then worth $14.7 million. The stock, along with $6.2 million in cash, comprised his annual bonus.

-Write to Justin Baer at justin.baer@wsj.com

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