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.