AP, The Economic Times

More women made the list of top-paid CEOs in 2023, but their numbers are still small compared to men

A recent report posted on The Economic Times talks about how Of the 341 CEOs in the AP's 2024 compensation survey, 25 are women, the highest number since the survey began in 2011. Lisa Su of AMD is the highest-paid female CEO, earning $30.3 million. The median pay for female CEOs increased by 21% to $17.6 million, outpacing male CEOs whose median pay rose by 12% to $16.3 million. Despite these gains, the highest-paid male CEOs still earn significantly more, and women often face the "glass cliff," being appointed to leadership roles during company crises.


The survey, based on data analyzed for The Associated Press by Equilar, includes CEOs at S&P 500 companies who have served at least two fiscal years at their companies, which filed proxy statements between Jan. 1 and April 30, 2024.

Su has been chief of AMD, based in Santa Clara, California, since 2014. The company is part of a growing number of companies trying to take advantage of a broader interest from businesses looking for new AI tools that can analyze data, help make decisions and potentially replace some tasks currently performed by human workers. AMD's stock price surged 127% in 2023.

The others in the top five highest paid female CEOs include Mary Barra of automaker General Motors with total compensation of USD 27.8 million; Jane Fraser of banking giant Citigroup with a package worth USD 25.5 million; Kathy Warden of aerospace and defense company Northrop Grumman Corp. at USD 23.5 million; and Carol Tome of package deliverer UPS Inc., whose pay was valued at USD 23.4 million.Some notable female CEOs aren't included since they became CEO less than two years ago or their company files proxy statements outside of the January through April window, including Julie Sweet of consultant Accenture and Sue Nabi, CEO of Coty Inc.


The median pay package for female CEOs rose 21 per cent to USD 17.6 million. That's better than the men fared: Their median pay package rose 12 per cent to USD16.3 million.

But the highest paid men still make far more than the highest paid women. Broadcom CEO

Hock Tan raked in USD161.8 million - the vast majority of that in stock awards.

numbers of men to women is the "glass cliff," Glass said. Her research shows women are more likely to be appointed CEO at disadvantaged companies.


"It's kind of like one step forward, two steps back," she said. "One of the factors driving that is the fact that women tend to have opportunities to serve as CEO when organizations are in crisis. ... That means that they start their leadership trajectory at a disadvantage."


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