Extra ladies are holding senior positions at S&P 500 corporations, however their numbers are nonetheless tiny in comparison with males.
Of the 341 CEOs included within the AP’s annual survey, 25 are ladies. That is the biggest variety of ladies to make the checklist for the reason that survey started in 2011. However the numbers have not modified a lot. In 2017, there have been 21 ladies in second place.
The survey, based mostly on knowledge analyzed for The Related Press by Equilar, contains CEOs of S&P 500 corporations who’ve served at their corporations for at the very least two fiscal years and filed between Jan. 1 and April 30, 2024.
Christy Glass, a College of Utah sociology professor who research fairness, inclusion and management, stated that whereas extra ladies in CEO positions this yr is a optimistic, total tendencies should not encouraging.
“We’ll see a yr that is going to be a well-known yr for feminine CEOs,” she stated. “However in a yr or two, we’ll see a major turnaround.”
Lisa Su, CEO and chairman of chipmaker Superior Micro Units, was the highest-paid feminine CEO within the AP ballot for the fifth yr in a row in fiscal 2023, with complete compensation of $30.3 million — proper in keeping with her compensation package deal. a yr earlier. Her score rose from 25 to 21.
Suh obtained a base wage of $1.2 million and a efficiency bonus of greater than $1.4 million. The majority of her package deal was $21.8 million in inventory.
Su has been an government at Santa Clara, California-based AMD since 2014. The corporate is a part of a rising variety of corporations making an attempt to make the most of a broader curiosity amongst companies searching for new synthetic intelligence instruments that may analyze knowledge, assist make choices and probably change some duties at present carried out by people. AMD inventory worth elevated by 127% in 2023.
The opposite 5 highest-paid feminine executives embody Normal Motors’ Mary Barra, with complete compensation of $27.8 million; Jane Fraser of banking big Citigroup with a package deal price $25.5 million; Kathy Worden of the aerospace and protection firm Northrop Grumman Corp. – 23.5 million {dollars}; and Carol Tom of package deal supply firm UPS Inc., whose wage is estimated at $23.4 million.
Some distinguished feminine CEOs should not included as a result of they grew to become CEOs lower than two years in the past or their corporations filed exterior of the January-April interval, together with Julie Candy of consultancy Accenture and Sue Naby, CEO of Coty Inc.
The typical pay package deal for feminine executives rose 21% to $17.6 million. That is higher than males, with their common wage rising 12% to $16.3 million.
However the highest-paid males nonetheless earn considerably greater than the highest-paid ladies. Broadcom CEO Hock Tan earned $161.8 million — the overwhelming majority of it in inventory awards.
A part of the issue of the disproportionate variety of women and men is a “glass cliff,” Glass stated. Her analysis reveals that girls usually tend to be appointed CEOs in deprived corporations.
“It is like one step ahead, two steps again,” she stated. “One of many components contributing to that is the truth that ladies are inclined to have the chance to function CEOs when organizations are in disaster. … This implies they begin their management trajectory at a drawback.”