Oracle’s Catz becomes top-paid female executive with $57 Million, “Bloomberg”
New York, USA – Safra Catz emerged as the highest-paid U.S. female executive in fiscal 2015 when she became co-chief executive officer of Oracle Corp.
Catz was awarded a $56.9 million pay package last year, placing her first among women on the Bloomberg Pay Index, a ranking of the 200 best-paid executives at companies that trade on U.S. exchanges. Her pay included $10.5 million in special equity awards tied to the promotion in addition to annual stock grants and a $1 million salary.
Alphabet Inc.’s Chief Financial Officer Ruth Porat emerged as the No. 2 woman with $41.1 million in awarded compensation after leaving Morgan Stanley, where she held the same role. Her pay package included a $5 million sign-on bonus. General Motors Co.’s Mary Barra, the first female chief executive of a major carmaker, came in third with $36.3 million awarded pay. She ran GM’s product development before becoming CEO in 2014.
Of the 17 women who currently rank among the 200 top-paid executives, 15 serve as executive officers of companies in the Standard & Poor’s 500 Index.
Boards recognise that top talent comes at a cost, said Conrad Pramboeck, Head of Compensation Consulting at Executive Search firm Pedersen & Partners. “If you settle for the third or the fourth best candidate because the first is too expensive, that can become an expensive decision in the long-term since a bad manager can ruin a company,” he said.
The Bloomberg Pay Index tracks the 200 highest-paid executives who appear in the filings of companies that submit proxy statements to U.S. regulators. Awarded pay values equity grants at each company’s fiscal year-end and can therefore differ from what’s reported in proxy filings. The ranking is based on proxy statements submitted through May 13.
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Conrad Pramböck is the Head of Compensation Consulting at Pedersen & Partners. Based in Vienna, Austria, he is responsible for consulting companies on all aspects of compensation, including providing companies with up-to-date market information on salary ranges and design of bonus systems across all industries and geographies. Prior to joining the firm, Mr. Pramböck held several senior positions in international consultancy firms. He started his career with a German Consultancy firm working in management consulting and later in the Compensation Consulting business unit based in Austria. For the following seven years he worked with one of the top Austrian Executive Search firms as the Head of Compensation Consulting. He was responsible for all international compensation consulting activities and developed and maintained an international compensation database in 40 countries.