And which of the three earned the most?
It’s no secret the CEO of a major and, in this case, global, company makes an outstanding yearly salary, plus numerous benefits like stock options and bonuses. But how much do the CEOs of Detroit's three major automakers make yearly? More specifically, how much did each of three earn in 2016, and who earned the most? According to The Detroit Bureau, who cited federal documents filed by the automakers, that’d be GM CEO Mary Barra, who took home $22.6 million last year.
In fact, that figure is $6 million less compared to her 2015 compensation – and she only became GM CEO in 2014. Here’s her 2016 salary breakdown: $2 million base salary, a $6.7 million cash bonus, $13 million in stock awards, and another $640,000 in other compensation. As for Ford CEO Mark Fields, his 2016 pay was only $500,000 less than Barra’s, coming in at $22.1 million. FCA CEO Sergio Marchionne, however, was very much a distant third, with a final 2016 salary of $11.99 million. Mary Barra has not only shattered the corporate glass ceiling, a once nearly impossible feat, especially in the conservative automotive industry, but she’s likely to remain the highest paid carmaker CEO in the world for the foreseeable future.
Reason being is that American automaker CEOs have a history of being paid more than their overseas counterparts. One note of irony regarding Barra: During her first year as CEO, GM took some criticism because Barra’s salary was much less than that of her immediate predecessor, Dan Akerson. Needless to say, the CEO of an automaker has its perks.