A roundup of the highest-paid bosses from 2011 in an earlier Wall Street Journal article is a reminder that women are still a rarity in the corner office. And those that do make it to the corner office are earning far less than their male counterparts.
Kraft Foods CEO Irene Rosenfeld, the top-paid woman last year, ranked 62nd on the list of more than 300 chief executives compiled by Hay Group. With a total direct compensation of $15.5 million, she earned just 1/24th of what top-paid Apple CEO Tim Cook received. (Even considering Cook’s abnormally high pay compared to the rest of the list, Rosenfeld got just one-fifth of what No. 2 Oracle CEO Larry Ellison earned.)
Research suggests the pay disparity between the two genders begins forming early on. New female M.B.A. graduates earn on average $4,600 less than their male counterparts, according to a Catalyst study of graduates from 26 top M.B.A. programs around the world. By mid-career, that pay gap grows to $31,000.