There is at least one place where women are earning more than men: the C-Suite.
Women chief executive officers at America's biggest companies took home median pay of more than $13 million in 2018, compared with the $12 million that men took home. That's according to a new Equilar study, which looked at base salary, bonus, stock-based compensation and other benefits.
The study found that women chief executives have made more than their male counterparts each of the last five years. During that time-frame, overall compensation has grown 25%.
Only one woman managed to crack the overall list of the 10 highest-paid CEOs last year. Safra Catz of Oracle made about $108 million, coming in behind Tesla's Elon Musk, Discovery's David Zaslav and Catz's co-CEO at Oracle, Mark Hurd.
These are the 10 highest-paid CEOs in 2018, according to Equilar:
1. Elon Musk
Company Name: Tesla, Inc.
Total Compensation: $2,284,044,884
2. David Zaslav
Company Name: Discovery, Inc.
Total Compensation: $129,499,005
3. Mark Hurd
Company Name: Oracle Corporation
Total Compensation: $108,295,023
4. Safra Catz
Company Name: Oracle Corporation
Total Compensation: $108,282,333
5. John Legere
Company Name: T-Mobile US, Inc.
Total Compensation: $66,538,206
6. Robert Iger
Company Name: The Walt Disney Company
Total Compensation: $65,645,214
7. Fabrizio Freda
Company Name: The Estée Lauder Companies Inc.
Total Compensation: $48,164,302
8. James Murdoch
Company Name: Twenty-First Century Fox, Inc.
Total Compensation: $44,415,365
9. Paul Saville
Company Name: NVR, Inc.
Total Compensation: $39,134,164
10. Daniel Schulman
Company Name: PayPal Holdings, Inc.
Total Compensation: $37,764,588
There are, however, several factors that skew the median CEO pay in favor of women. For one, there's a much smaller sample size. The study looked at the 500 largest companies by revenue, and there were only 21 female CEOs, or just over 4 percent of the dataset.
Additionally, women tend to run larger companies. In 2018, the median market cap for a woman-run business was $22.5 billion. For men, it was $16.3 billion, according to Equilar. Often the larger a company is, the more they pay their CEO.
These are the 10 highest-paid women CEOs in 2018, according to Equilar:
1. Safra Catz
Company Name: Oracle Corporation
Total Compensation: $108,282,333
2. Mary Barra
Company Name: General Motors Co.
Total Compensation: $21,870,450
3. Marillyn Hewson
Company Name: Lockheed Martin Corporation
Total Compensation: $21,516,545
4. Phebe Novakovic
Company Name: General Dynamics Corporation
Total Compensation: $20,720,254
5. Virginia Rometty
Company Name: IBM
Total Compensation: $17,552,218
6. Gail Boudreaux
Company Name: Anthem, Inc.
Total Compensation: $14,184,276
7. Susan Griffith
Company Name: The Progressive Corporation
Total Compensation: $14,172,925
8. Vicki Hollub
Company Name: Occidental Petroleum Corporation
Total Compensation: $14,105,693
9. Lynn Good
Company Name: Duke Energy Corporation
Total Compensation: $13,794,367
10. Lisa Su
Company Name: Advanced Micro Devices, Inc.
Total Compensation: $13,356,392
Compared with the median male CEO, women also tend to have a slightly greater portion of their compensation tied to performance. So in a rising market environment, it makes sense that women would take home more.
Last year, the stock market traded lower, and the gap that has historically benefited women narrowed against their male counterparts — but women still managed to eke out the edge over the median male CEO.
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