Job of the Day: Female CEO

The Wall Street Journal puts a tepidly positive spin on the news that female CEOs still make less than male ones, despite better-than-average performance:

More women are running America’s top companies and, in terms of pay, they may be closing in a bit on the men. At 300 of the largest U.S.-traded public companies, chief executives earned a median of $11.4 million last year, according to a Wall Street Journal compensation survey conducted by consulting firm Hay Group. Fourteen of those companies had women in the corner office—eight of whom earned more than the median pay and six of whom earned less.

The women also performed a little better than the broader group, with eight achieving better than the median gain in corporate profit. The female CEOs delivered a median total shareholder return of 36%, versus 34% for the full survey. …

TJMaxx Cos. chief Carol Meyrowitz topped the highest-paid list among the women in the Journal survey, with a compensation package valued at $20.6 million. The company, which owns off-price chains T.J. Maxx and HomeGoods, paid her more than all but 26 other CEOs in the survey, but still less than half of what the top-paid men received.

At least the trend is positive:

Surveys that include CEOs of smaller companies, both publicly and private held, show women making strides in pay, though a gap persists. Female CEOs earned nearly 80% of their male counterparts’ compensation in 2013, according to a study from the Institute for Women’s Policy Research based on Labor Department data. Two years ago, women who were CEOs earned 69% of what men who were CEOs were paid.

Even at the very top levels, five decades after the Equal Pay Act of 1963, inequality remains rampant. Incredible. Somewhere, Jill Abramson is lacing up her boxing gloves.

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9 Comments / Post A Comment

@fo (#839)

“BAD BUT LUCRATIVE JOBS”

Huh? How is being the Boss a ‘bad job’?

@@fo Oh, I’d be my own boss in a heartbeat, but you couldn’t pay me enough to be a CEO. YMMV, of course.

Allison (#4,509)

@Ester Bloom there’s also the “make a woman CEO of a company right as it’s about to go through a major (possibly PR related) rought patch and then dump her later” a la GM.

@fo (#839)

@Ester Bloom: “you couldn’t pay me enough to be a CEO”

Why? Not “why wouldn’t you want to go thru all the BS to *become* the CEO”, but “why would you turn it down if offered to you this afternoon (together with the 8-figure paycheck and the 8-figure-plus golden parachute)”?

The former, I understand 100% , the latter? What’s the worst that happens? You’re fired and your future prospects as a CEO are ruined? So?

dotcommie (#662)

@@fo I can’t speak for Ester, but I wouldn’t want the stress, long hours, and the buck stopping at me for thousands of people.

@dotcommie Yeah, that’s basically it. I worked right under the CEO at my last job and got a close-up view of the horror. I don’t like money enough for money to make that kind of lifestyle worth it to me.

Stanley (#6,750)

@Ester Bloom At least your being honest. Few people have the skills and calm demeanor required for such a demanding job. I always laugh when I hear people say they could be a CEO. It’s like saying you could do a better job as President. Very easy to say. Much harder when you are actually in the driver’s seat.

@fo (#839)

@Ester Bloom “I don’t like money enough for money to make that kind of lifestyle worth it to me.”

So, that implies that you have some sympathy for the level of cash compensation provided to CEOs.

@Stanley: “Few people have the skills and calm demeanor required for such a demanding job.”

“Calm demeanor”? Not so many of them, really, tho many are good at faking it. And the “skills” vary greatly by the industry/company, and, anyway, if it’s a question of “I never want that job, for any amount”, it’s not, necessarily about being *good* at the job, it’s about putting on a face until they relieve you of your duties–You don’t want to be the septic-tank-cleaner, either, and may not be good at it, but if the ‘reward’ for doing a barely passable job for 12 months was true financial independence for life, is “no. never” actually a believable response? I’m dubious.

deathcabforcutes (#6,237)

CEOs make WAY TOO MUCH MONEY anyway, right?

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