Female CEOs make more than their male counterparts – but there are a lot less of them


, Last Updated: 5:01 PM ET

NEW YORK — Women CEOs earned big bucks last year, but there’s still very few of them running the world’s largest companies.

The median pay for a female CEO was US$ 13.1 million last year, up 9% from 2015, according to an analysis by executive data firm Equilar and The Associated Press. By comparison, male CEOs earned US$ 11.4 million, also up 9%.

But the number of women in CEO roles has barely budged. Just 6% of the top paid CEOs in the U.S. last year were women, according to the Equilar and AP analysis, a slight increase from about 5% in 2015 and 2014.

In March, StatsCan released a report showing the hourly wage disparity between men and women has shrunk significantly.

According to the study, in 2015, men earned an average of $ 29.86 per hour while women earned $ 26.11 or $ 0.87 per hour compared to their male counterparts. The report also found that women worked an average of 5.6 hours per week less than men.

The Trudeau government has promised ‘proactive’ pay equity legislation in 2018 to close the gender gap.

Experts say companies need to do more to get women into CEO roles.

Janice Ellig, the co-CEO of executive search firm Chadick Ellig, says “unconscious bias” in the workplace is keeping women from getting opportunities that will put them on track to for top roles.

Companies need to “start recognizing that gender inequality exists,” say Ellig, who is also chairperson of the Women’s Forum of New York.

“If you don’t recognize a problem, you can’t solve a problem,” she says.

10 highest-paid women CEOs for 2016, as calculated by The Associated Press and Equilar

1. Virginia Rometty

International Business Machines Corp.

US$ 32.3 million

Change: Up 63%

2. Marissa Mayer

Yahoo Inc.

US$ 27.4 million

Change: Down 24%

3. Indra Nooyi

Pepsico Inc.

US$ 25.2 million

Change: Up 13%

4. Mary Barra

General Motors Co.

US$ 22.4 million

Change: Down 22%

5. Phebe Novakovic

General Dynamics Corp.

US$ 21.2 million

Change: Up 4%

6. Marillyn Hewson

Lockheed Martin Corp.

US$ 19.4 million

Change: Down 4%

7. Irene Rosenfeld

Mondelez International Inc.

US$ 15.8 million

Change: down 13%

8. Lynn Good

Duke Energy Corp.

US$ 13.5 million

Change: Up 26%

9. Heather Bresch

Mylan NV

US$ 13.3 million

Change: Down 27%

10. Susan Cameron

Reynolds American Inc.

US$ 13.1 million

Change: Down 3%

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