General Motors CEO Mary Barra took home $40.3 million in 2020, according to a new study conducted by Automotive News.
Barra, who also serves as the chair of GM, had a salary of $2 million in 2020, but total compensation of $40.3 million. That’s according to data obtained via the Automotive News/Equilar CEO Compensation Study, which, in addition to base salary, factors in other forms of compensation such as cash bonus payouts, gains from stock awards, benefits and perquisites. Automotive News says this data is from a pay summary compensation table in the automaker’s annual SEC proxy statement.
Earlier this year, a report indicated Barra’s compensation in 2020 was $23.7 million. This study came up with a much higher figure, as company-reported figures only calculate the value of equity awards when they were first granted. This survey, by comparison, includes the eventual realized value of the options and stocks. Automotive News also says the realized value of equity can be partially attributed to stock awards granted to executives in prior years, as well.
Barra’s total compensation of $40.3 million made her the second highest-earning CEO of an American company in 2020. Jensen Huang, CEO of graphics card manufacturer Nvidia, had the highest compensation of any executive at $255 million, which includes a $1 million salary and $214 million in stock option gains. The third highest-earning CEO was E. Scott Santi of Illinois Tool Works, a company that produces fasteners and other hardware components, who took home $31.6 million last year.
The median GM employee salary in 2020 was $117,566. Based on that figure, Barra’s total compensation was 342 times higher than that of the average white-collar GM employee. The American automaker currently employs roughly 69,000 salaried workers globally.