How Much Does Mary Barra Make?
Mary Barra is both the Chair and CEO of General Motors (GM). She is highly respected in the automotive world for her leadership. Her compensation shows she’s one of the top-paid CEOs. We’ll look into her earnings and where they stand compared to others in the industry.
In 2023, Barra’s total compensation was $27,847,405. This amount was slightly lower by 4% than the year before. Her pay package included a salary of $2.1 million. She got stock worth $14.6 million, $4.9 million in options, an incentive of $5.3 million, and other payments of $997,392.
This year’s smaller pay was because General Motors didn’t hit its financial goals. Despite this drop, Barra’s position as one of the industry’s top earners still holds. It shows her significant role within the company.
Next, we will look closer at how Mary Barra’s pay compares to other Detroit Three automaker CEOs. We’ll check the details of her pay package. Also, we’ll see the CEO pay ratio at General Motors.
Comparison to Other CEO Salaries in the Detroit Three Automakers
In the world of CEO salaries, Mary Barra from General Motors (GM) has been a top figure. She has led among the Detroit Three. But, new data shows a change in who earns the most.
Carlos Tavares, the CEO of Stellantis, now earns more than Barra. In 2023, he made $39.5 million, beating her $27.8 million. This shows how much the top bosses in cars can earn.
Not far behind is Ford’s CEO, Jim Farley. In 2023, he earned $26.5 million. These numbers for Tavares, Barra, and Farley show just how big CEO salaries are in the Detroit Three.
Breakdown of Compensation Components
Mary Barra’s total compensation includes many parts. It shows how executive pay works at General Motors (GM).
Salary
In 2023, Barra’s salary was $2.1 million. This is the starting point for her compensation at GM.
Stock Awards
She also got stock awards worth $14.6 million. They are based on how well GM and its CEO work together for success.
Option Awards
Barra got option awards, too, worth $4.9 million. These let her buy GM stock at a set price over time.
Incentive Plan Compensation
Her package included $5.3 million in incentive plan compensation. This part rewards reaching set goals.
Other Payments
Besides these, Barra received $997,392 in other payments. This could cover benefits, special pay, or other types not mentioned before.
Mary Barra’s full compensation is made up of salary, stock and option awards, incentive bonuses, and other forms of payment. It shows how executive pay is made up of many parts at GM.
CEO Pay Ratio and Comparison to Median Employee Pay
One key thing to note about executive pay is the CEO pay ratio. At General Motors (GM), this ratio was 303-to-1 in 2023. This ratio shows how much Mary Barra, GM’s CEO, makes compared to the median employee’s pay, excluding the CEO.
In 2023, the median GM employee earned $91,778, which was up from the year before. This big difference in pay shows the divide between what top executives make and the average worker.
This issue brings up talks about executive pay’s complexity and its focus on performance. The CEO pay ratio and median pay comparisons spotlight the debate on income inequality. They show how companies must work on reducing this wage gap and being fair with pay structures. These discussions are very important in the business world.
