Female CEOs in S&P 500 companies are paid more than male CEOs
According to a study conducted by American research firm Equiler and the Associated Press, among the 500 largest publicly traded companies, female CEOs tend to be paid more than men in the same position. Still, the number of female CEOs at the helm of companies is disproportionately low compared to male CEOs.
The study compared the executive compensation of 341 CEOs of S&P 500 companies in fiscal year 2023 who held shareholder meetings between January 1 and April 30, 2024, and served for at least two fiscal years.
The median compensation for female CEOs is $17.6 million, more than 8% higher than the $16.3 million for male CEOs. This is surprising when one considers that the average income level of women is only about 82% of that of men.
The highest-paid woman is semiconductor giant AMD CEO Lisa Hsu, who has been paid for the fifth consecutive year, with a total compensation of $30.3 million in fiscal year 2023. Second place went to Mary Barra, CEO of the automotive giant General Motors (GM), with a compensation of $27.8 million. In third place is Jane Fraser, CEO of the financial giant Citigroup, with revenue of $25.4 million.
However, this news is not all good news for women. Men predominate the 20 highest-paid CEOs in the overall gender survey, with only 25 of the 341 CEOs surveyed being women. Even if the scope is extended to S&P 500 companies, only 31 (7%) are female CEOs.
There are several theories that try to explain why so few women are promoted to management. It's a cliché theory that women have only advanced in society in recent decades, and that it takes time to succeed. In fact, more than 50 years have passed since women entered the workforce, which is enough to get them up to the top of the company.
A study of more than 29,000 managers at a large retail company found a more logical explanation. In this company, 56% of new hires are women, but only 48% of department managers, 35% of store managers, and 14% of regional managers are women.
The research team found that differences in pay between men and women in predicting their potential for managerial positions created a promotion gap. In retail companies, even if women have higher performance ratings than men, they often don't get promotions because they are perceived as less promising than men.
In short, for a woman to reach the position of CEO, she needs to be a better person than a man.
图片从左至右依次为：Lisa Hsu，Mary Barra，Jane Fraser
