(This story has been revised to reflect additional comments by General Motors on its executive compensation strategy.)
There have been countless surveys over the years that find women in the workforce make less money than their male counterparts and, apparently, that’s true at even the highest levels — including the new chief executive officer at General Motors.
GM has revealed that its new CEO Mary Barra stands to earn as much as $4.4 million in her first year on the job. That’s if she collects on the full $2.8 million that’s set aside as part of a short-term incentive plan. (She also could collect a potential $1 million in a new stock offering.) But Barra’s base salary is $1.6 million – a full $100,000 less than outgoing CEO Dan Akerson made in 2012 and 2013.
And Akerson will continue to out-earn Barra, at least for the time being. Though he retired last week – months ahead of the original plan due to his wife’s serious bout with cancer – the former Navy pilot will remain a GM consultant for which his base salary will be larger than Barra’s, according to GM documents filed with the Securities and Exchange Commission.