It is often said that the glass ceiling in corporate boardrooms is still intact. However, those women who do make it through garner both admiration and, oftentimes, scrutiny that seems out of proportion to their small numbers. But they also rake in enormous compensation packages. A recent executive compensation study Equilar 100 reveals that on average women CEOs take home significantly more than their male counterparts. In 2016, total compensation for women CEOs on average was $23.1 million, nearly 44% more than the $16 million for the average male CEO.
According to Catalyst.org, a non-profit championing gender equality, there are currently 29 female CEOs at the helm of the companies in the S&P 500. The list below has been created by using both the size of the companies they run by market cap as well as their compensation. Compensation figures from 2015 are based on the 2016 New York Time-Equilar Study.
1. Safra A. Catz
CEO, Oracle (ORCL)
Former Oracle CFO Catz was appointed as one of two company CEOs in 2014 after Lawrence Ellison stepped down from the position to assume the role of executive chairman and chief technology officer. Under her leadership, $175 billion tech giant has pursued an aggressive acquisition strategy, completing over 85 deals in the past five years.
(Read also: Oracle Co-CEO to Meet with Donald Trump)
As the highest-paid female CEO, Catz made $40 million in 2016, down almost 23% from the $53 million she made the previous year. Over $27 million of her compensation in 2015 came from stock awards, while more than $24 million could be attributed to stock options. She drew a base salary of $950,000 but did not earn any cash bonus last year.
Catz also teaches at the Stanford Graduate School of Business. She ranks #10 on the 2016 Fortune Most Powerful Women list.
2. Mary Barra
CEO, General Motors (GM)
Named the most powerful woman in business by Fortune magazine, Barra is first female CEO of General Motors and pretty much the first for a major automobile company in the US. She is also the third largest individual shareholder in the company.
(Read also: The Top 4 General Motors Shareholders)
She slid into the driver’s seat at GM in January 2014, taking over from Daniel Akerson, the man credited for turning the company profitable after it filed Chapter 11 bankruptcy protection in 2011. Since then not only has the company grown but so has Barra’s influence. Last year she became one of the three women who found a seat on Trump’s Strategic and Policy Forum.
When you’re running a $56 billion company, you also get paid for it. Barra’s 2015 compensation was $28.6 million including a base salary of $1.75 million and a little over $3 million in bonus. She was also awarded options worth $11 million and stock awards in excess of $12 million along with perks worth half a million dollars.
3. Indra Nooyi
CEO, Pepsi Co.(PEP)
Nooyi was one of the earliest of the women CEOs to head a major global corporation. She has spent over a decade at the top job at Pepsi Co. Since she took over as CEO in October 2006, the stock price has increased by 73%.
She was a company veteran, working in a number of roles, including as the CFO before she took the corner office. Under Nooyi, the company has pivoted from being primarily a soda company to a food and beverage conglomerate with products like Frito-Lays and Mountain Dew, even diversifying into healthier options like Naked Juice. Last year the company announced that less than 25% of its global sales come from soda.
(Read also: How PepsiCo’s CEO Has Transformed the Company)
Heading a $156 billion company has its benefits. Nooyi raked in over $25 million in 2016, a 13% hike in her pay from the year before. In 2015, $13 million bonus was the biggest part of her package, followed by $6.25 million in stock awards. She also received $1.6 million in salary and over $370,000 in perks.
While she is now a member of President Trump’s CEO forum, in the past she hasn’t minced her words to criticize him for his comments towards women. “Forget about the Pepsi brand. How dare you talk about women that way? If we don’t nip this in the bud it is going to be a lethal force in society,” she said last year.
4. Marillyn Hewson
CEO, Lockheed Martin (LMT)
Hewson has been at the helm of the $78 billion defense technology company Lockheed Martin (NYSE:LMT) since 2013. What is even more impressive is that the stock price of the company has increased a staggering 196% since she took office.
She spearheaded Lockheed’s $9 billion acquisition of Sikorsky in November 2015. And it paid off well for her, too, even though her compensation saw a slight dip last year. In 2016, she collected nearly $19 million in salary and bonus, down 4% compared to the year before. In 2015, she received close to $9 million in options along with about half a million dollars in perks.
(Read also: 5 Things Lockheed Martin Wants You to Know)
Last year Lockheed came under fire from Donald Trump who tweeted that the F-35 jets manufactured by the company were too expensive. The company promptly offered to cut costs and offered savings to the incoming President.
5. Virginia Rometty
CEO, International Business Machines (IBM)
She joined IBM in 1981 and 31 years later, Rometty was named its CEO. With over 13,228 shares, Rometty is also one of the largest individual shareholders in the $170 billion company.
But her tenure so far has been anything but smooth. Despite beating analyst estimates in Q4 2016, the company’s revenues declined continuing the trend that has now prevailed for 19 straight quarters. However, Rometty announced that the company plans to hire 25,000 people over the next four years.
(Read also: Who is Driving IBM’s Management Team?)
Rometty has led IBM’s efforts in innovation by venturing into cloud computing, blockchain, data analysis and even artificial intelligence through the Watson technology.
Another woman CEO in Trump’s advisory forum, Rometty has often come under fire for her extravagant compensation. In 2016, she took home $32 million, a 63% raise from the year before. Her 2015 compensation included $12.9 million in stock awards, $1.5 million in salary and a $4.5 million bonus.