Rishi Sunak will donate the salary from his new position at Goldman Sachs to a maths charity he founded with his wife.
On Tuesday, it was announced that the firm has appointed the former prime minister as a senior adviser.
The role, which will see Mr Sunak return to Goldman Sachs after 21 years, is his first major position since resigning as lead of the Conservative Party following its general election defeat last year.
He has since said he will donate his salary from the job to The Richmond Project, a charity he founded earlier this year to try and improve numeracy across the UK.
Mr Sunak, who was prime minister between October 2022 and July 2024, is set to advise leaders across the firm and provide “insights on the macroeconomic and geopolitical landscape”.
The MP for Richmond and Northallerton worked for Goldman Sachs between 2001 and 2004.
The appointment comes just over a year since Mr Sunak’s resignation as prime minister, allowing him to take on the advisory position.
However, the ACOBA (Advisory Committee on Business Appointments) body, which regulates business appointments of sitting MPs, said Mr Sunak cannot lobby the government or use ministerial contacts to influence policy or secure business advantage for another year.
It also restricted him from advising on matters linked to foreign governments or sovereign wealth funds for another year.
Chairman and chief executive David Solomon said: “I am excited to welcome Rishi back to Goldman Sachs in his new capacity as a senior advisor.
“In his role, he will work with leaders across the firm to advise our clients globally on a range of important topics, sharing his unique perspectives and insights on the macroeconomic and geopolitical landscape.
“He will also spend time with our people around the world, contributing to our culture of ongoing learning and development.”
Earlier this year, the former prime minister also took up posts with the University of Oxford and Stanford University.
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