Gender Pay Gap Persists at CEO Level, Too

Women CEOs still earn up to two-thirds less than male chief execs

By Rebecca Smith Hurd, Newser User

Posted Nov 9, 2008 2:32 PM CST

(Newser) – When it comes to equal pay for equal work, female CEOs have yet to level the playing field, either, blogs Jena McGregor in BusinessWeek. Women at the top today earn 85% of what their male counterparts make—$1.75 million compared with $2.1 million at the median—even though their base salaries are higher, a new report shows. The gap is widest at large firms, where female chiefs earn two-thirds that of male execs.

Researchers speculate that the scarcity of female CEOs (3%) contributes to their lower pay, as does their tendency to lead struggling companies. Or maybe it’s just that men get all the credit? Men receive more "internal attributions" for a company's performance, says the author of another study, whereas boards are more prone to cite external economic situations when it comes to a female manager.

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Women CEOs at the largest firms are still paid two-thirds that of their male counterparts, a new report shows. (AP Photo/Aaron Favila)

Economist Dr. Julianne Malveaux grabs dollar bills inside "world's largest money machine" in San Francisco. Dr. Malveaux is promoting the importance of personal savings during AmericaSaves Week. (AP Photo)

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There were nearly 33 times as many male CEOs as there were female CEOs. This is a shockingly low number in any major Western economy."
- Paul Hodgson, researcher for The Corporate Library

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Gender Pay Gap Persists at CEO Level, Too