Thursday, May 13, 2010

Glass Ceiling Has Been Shattered for CEO Pay

From Bloomberg:

Chief executive officers’ pay is shattering the glass ceiling. Boosted by a $47.2 million package for Carol Bartz of Yahoo! and $26.3 million for Irene Rosenfeld of Kraft Foods, compensation for woman CEOs at the biggest U.S. companies is booming.

Sixteen women heading companies in the Standard & Poor’s 500 Index averaged earnings of $14.2 million in their latest fiscal years, 43 percent more than the male average, according to data compiled by Bloomberg News from proxy filings. The women who were also CEOs in 2008 got a 19 percent raise in 2009 -- while the men took a 5 percent cut.

“When you see numbers like this, one can truly say that the glass ceiling in corporate America has been shattered,” said Frank Glassner, CEO of San Francisco-based Veritas Executive Compensation Consultants LLC. “I don’t remember seeing women ever getting paid more than men.”

HT: Morganovich


4 Comments:

At 5/14/2010 4:50 AM, Blogger randian said...

I don't hear the whining about glass ceilings stopping. Must be something wrong with my ears.

 
At 5/14/2010 9:07 AM, Anonymous Anonymous said...

This is true progress we can be proud of - wildly overpaying women CEO's for mediocre operating peformance, questionable decisions long before the results can be evaluated, and a do-nothing stock.

 
At 5/14/2010 11:23 AM, Blogger Benjamin said...

Before, when male execs made outlandish salaries at shareholder expense, I would throw up. Now, with female execs making outlandish salaries at shareholder expense, I have the heebie-jeebies.

It's coming out of both ends, and profusely.

 
At 5/14/2010 11:16 PM, Blogger Ron H. said...

>"It's coming out of both ends, and profusely."

I'm not sure I needed that image. :-)

 

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