Goldman Sachs Group Inc. awarded Chief Executive Officer Lloyd Blankfein a $7 million bonus to be paid out over eight years if the firm meets certain targets, bringing his total compensation for last year to $30 million.

Blankfein, 61, can receive more or less of the long-term incentive award based on whether the firm achieves return-on-equity and book-value targets, the New York-based firm said Friday in a filing. His package includes $14.7 million in restricted shares, a $6.3 million cash bonus and a $2 million salary.

He becomes the highest-paid CEO among those at the largest U.S. lenders for the fourth straight year, despite overseeing a 28 percent decline in net income. The firm’s ROE was 7.4 percent last year, a 34 percent decline from 2014 after the bank paid more than $5 billion to settle a probe into mortgage-backed securities.

Blankfein’s total pay package for 2015 fell from $31 million a year earlier. JPMorgan Chase & Co. gave CEO Jamie Dimon a 35 percent pay raise to $27 million for 2015, while Wells Fargo & Co. awarded John Stumpf $19.3 million for a fourth straight year. Citigroup Inc. trimmed Mike Corbat’s compensation 27 percent to $16.5 million. Bank of America Corp.’s Brian Moynihan got $16 million.