Finding the 11 highest paid female CEOs in America in 2017 might seem an odd task, as many of us are programmed to think that women aren’t given a chance to reach the top of the corporate ladder in the U.S.
Over the last few years, we have seen a massive media onslaught against companies which pay their female employees less than their male employees. There is even a special day – Equal Pay Day (April 4) – celebrated by Feminists and women’s rights activists to spread awareness about the gender pay gap (although whether any pay gap in a larger sense is actually unjust or the legitimate result of men working harder jobs, is contested). As a result, major companies are taking active measures to curb any gender pay gap among their workforce.
In fact, when we take a look at the salaries of female CEOs in the U.S, the gender pay gap problem is taking a new turn. According to data compiled by The Wall Street Journal, female CEOs earn more than male CEOs. This finding is based on the median compensation packages of S&P 500 leaders who held their jobs for at least a year. The report revealed that 21 female CEOs received a median salary of $13.8 million, compared to the $11.6 million median salary earned by the 382 male CEOs.
It might also be surprising for you to know that over the last six years, female CEOs have made more money than male CEOs, and that three of the ten highest paid executives are women. However, women are far outnumbered by men in almost every job segment. Some experts also believe that companies have started to hire top female executives and pay them hefty sums to silence the media, while a majority of women doing non-executive jobs are still being paid far less than men (although this seems highly speculative).
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Tech giants like Google and Facebook are notorious for their vast gender-based pay gaps. In May, Google refused to provide wage data to the Department of Labor, saying that it would have to spend up to 500 hours of work and $100,000 to comply with investigators’ demands. The Department of Labor had requested Google to provide wage data which would help it find out reasons behind the gender pay gap problems in tech corporations. According to a survey conducted by companies review platform Glassdoor, men make 28.3% more than their female counterparts on average in the U.S. The survey is based on 534,000 anonymously shared employee salaries.
But famous people in the industry are rallying to solve the problem of the gender pay gap. Sheryl Sandberg recently launched the #20percentCounts campaign under her organization, Lean In, to spread awareness and campaign for equal wages. In 2015, Salesforce CEO Marc Benioff spent $3 million to close Saleforce’s pay gap. In his commencement speech at Harvard in May, Mark Zuckerberg supported the idea of a universal basic income, which would also close the pay gap somewhat. As a result, trends are changing, and we can see this change in the hefty paychecks female CEOs are taking home.
Head to the next page to begin the list of the 11 highest paid female CEOs in America in 2017.
11. Lynn J. Good
Lynn Good has been the President and CEO of North Carolina-based electricity company, Duke Energy Corp (NYSE:DUK) since 2013. Good’s compensation package is valued at around $13.479 million, according to Bloomberg. The executive has a Systems Analysis and Accounting degree from Miami University.
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10. Laura J. Alber
Laura J. Alber became the CEO of California-based kitchenware and home furnishing company Williams-Sonoma, Inc. (NYSE:WSM) in 2010. Alber is paid over $13.8 million per year by the company for her services. Laura Alber joined Williams-Sonoma as a senior buyer in 1995.
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9. Jane Elfers
Jane T. Elfers is the CEO of Childrens Place Inc (NASDAQ:PLCE), a company which produces and sells apparel and accessories for children. According to Bloomberg, Elfers’ compensation is approximately $15.69 million. Elfers started her career in retail at Macy’s Inc. Since Elfers became CEO in 2010, Childrens Place Inc (NASDAQ:PLCE)’s stock is up by over 130%. She brought the company out of debt with several changes in management, fleet optimization policies and a digital-first approach.
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8. Irene B. Rosenfeld
Irene B. Rosenfeld is the CEO of New Jersey-based Mondelez International Inc (NASDAQ:MDLZ), the company which makes confectionery products, food, and beverages. The 64-year-old executive, who has also worked as the CEO of Kraft Foods, has a salary of $15.84 million. In 2016, over $8 million out of this salary package were given as stock awards to Rosenfeld.
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7. Phebe N. Novakovic
Phebe N. Novakovic is a relatively obscure American business women. Interestingly, Novakovic is also a former intelligence officer. She is currently the CEO of Aerospace and Defense company, General Dynamics Corporation (NYSE:GD). She was listed as the 56th-most powerful woman in the world by Forbes in 2014. Novakovic, who is of Serbian descent, is paid a salary of over $21.2 million.
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6. Marillyn A. Hewson
Marillyn A. Hewson, the 20th-most powerful woman in the world, according to Forbes’ 2015 list, is the CEO of Lockheed Martin Corporation (NYSE:LMT). Hewson was paid $20.6 million in compensation in 2016, a big drop from her 2015 salary of $28.6 million. But most of the compensation cut was due to the performance of her pension assets. Hewson recently tried to mend fences with President Trump, who lashed out at Lockheed Martin in December for the costs of the F-35 fighter jet program, tweeting that the costs of the jet program were “out of control”. In an interview last month, Hewson said that the President was trying to emphasize that the Nation’s money should be spent wisely, and she “agrees” with this stance.
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5. Mary T. Barra
Mary T. Barra is the CEO and chairperson of General Motors Company (NYSE:GM). She is the first female CEO of any major automobile company. Barra’s compensation package is a massive $22.6 million. In 2015, Barra’s salary was bumped up to $28 million after the company earned record profits. The 55-year-old executive is the highest paid CEO in the entire auto industry. Barra completed her Masters in Business Administration in 1990 at Stanford.
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4. Indra K. Nooyi
Indian American business executive Indra K. Nooyi, who is currently the chairwoman and CEO of PepsiCo, Inc. (NYSE:PEP), is one of the 11 highest paid female CEOs in American in 2017. According to a public filing by Pepsi, Nooyi’s annual salary was increased by 13% in 2016 to $29.8 million. The company praised Nooyi’s “extraordinary strategic leadership” in an uncertain business environment while announcing the compensation hike. Most of the salary bump for the 61-year-old executive came in the form of stock awards.
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3. Ginni Rometty
International Business Machines Corp. (NYSE:IBM)’s CEO Ginni Rometty is one of the most highly paid female CEOs among S&P 500 companies. In April, IBM’s board narrowly passed a whopping 60% raise to Ginni’s salary, after which the 59-year-old CEO’s compensation stands at $33 million. Ginni’s hefty salary has been criticized by IBM shareholders, including billionaire investor Warren Buffett, who lost confidence in the company earlier this year and sold off a third of his stake in the company. Ginni Rometty became the CEO of IBM in 2012. Since then, the beleaguered company, which is in its sixth year of a business transformation, has had revenue decline by 26%.
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2. Margaret Whitman
Margaret Whitman, the President and Chief Executive Officer of Hewlett Packard Enterprise Co (NYSE:HPE), has an annual salary of about $35.6 million. The 60-year-old CEO, who has business degrees from Harvard and Princeton, took home about $1.5 million as her base salary in 2016, while over $3 million was paid to her as a bonus. The rest of the compensation money came from stock awards and options, according to the proxy statements filed by HP for its fiscal 2016 year. Margaret Whitman spearheaded the efforts to split HP into two separate businesses, HP Enterprise and HPQ. After the spin-off, Whitman received one-time equity grants worth $15 million.
1. Safra A. Catz
First on our list of the 11 highest paid female CEOs in American in 2017 is Oracle Corporation (NYSE:ORCL)’s co-CEO Safra A. Catz, who has a take-home salary of $85.92 million, according to data provided by Bloomberg. The take-home salary includes stock options, cash received, bonuses and perks. Safra is an Israeli-born American who has been an executive at Oracle since 1999. The 55-year-old assumed the office of chief executive of Oracle in 2011. She shares the responsibilities of CEO with Mark Hurd. Safra’s base salary in 2016 was $950,000 cash, while the executive took home over $80 million in exercised options and $4.2 million from vested stock.
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Disclosure: None
