GM CEO Mary Barra Received 23 Percent Compensation Increase In 2021
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GM CEO Mary Barra received total compensation of $29 million in 2021, which mainly came in the form of stock and options awards.
Barra’s 2021 compensation was 23 percent higher than in 2020, reports The Detroit Free Press, when the 60-year-old earned a total of $23.7 million. Her actual annual salary was slightly higher in 2021 at $2.1 million, up from $1.9 million the year prior, however the vast majority of her pay last year came from stock awards, which totalled $14.6 million. She also received $4 million in options awards last year, $7.6 million in incentive plan compensation and another $873,075 in other payments. GM spent another $413,368 on personal travel, security, company vehicles and physical and financial counselling for Barra, as well.
Mary Barra in 2021
Barra wasn’t the only GM exec earning more in 2021 than in 2020. President Mark Reuss earned $12,535,747, which was up from $9,963,402 in 2020, while Chief Financial Officer Paul Jacobson earned $9,578,648, up from $5,179,672. GM North America president Steve Carlisle also earned $8,980,204, up from $6,289,463 in 2020. A similar raise was given to Vice President of Global Product Development, Purchasing and Supply Chain, Doug Parks, who saw his compensation grow from $6,733,708 to $8,835,477.
GM President Mark Reuss
Going forward, GM will tie much of its executive compensation to various electric vehicle sales volumes and launch targets. This will include executive bonuses, stock and option awards, pension value, employer contributions to 401k, life insurance and more. Executive performance will be measured based on targets for sales volumes and product launch timing, as well as vehicle quality standards.
“At GM, our compensation has always been driven by the company’s success,” Barra said during the company’s recent Q1 2022 earnings call. “And no one should doubt our commitment to lead in EVs or the passion our team has for that mission.”
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It’s almost like she grabs from employees and stockholders pockets and puts it in hers.
Her competition amount is Absolutely disgusting.
With a pitifully nonexistent lineup of actual gm cars and none on the drawing board unless that drawing board happens to be in China, it’s no wonder gm’s market share is at its lowest in history and falling. Being a purveyor of full-sized pickups and SUVs in an era of $6.00+ per gallon gas smacks of history repeating itself. Once again, gm is caught with its pants down. Yet management rakes in millions as they foist absurdities like the 6,000lb $110K electric Hummer on the public as if THIS is the answer to America’s homegrown transportation needs. Is it any wonder why Toyota leads and Hyundai’s ascendant? Gm management is a joke and so are their cheerleaders.
The Big Three have all lost market share in the past 10 years, that’s what happens in a mature market. The key is to profitably adapt to that market, as GM has done, and to not pay attention to singular opinions of posters who want a vehcile made just for them. It’s the collective opinion of purchasers that determines which vehicles are a success and which aren’t.
The Big Three have all lost market share in the past 10 years, that’s what happens in a mature market. The key is to profitably adapt to that market, as GM has done, and to not pay attention to singular opinions of posters who want a vehicle made just for them. And are triggered when the collective opinion of purchasers determines which vehicles are a success and which aren’t, instead of theirs.
The market for $60-$80K monstertrucks and $100+K electric monsterSUVs?? That’s a limited market and the pie will get smaller as people begin to wake up. Meanwhile, Hyundai who came on the scene in 1986 hawking laughable crapwagons now has an impressive full lineup of appealing and affordable cars and flavor of the moment SUVs.
Hybrids and electrics as well. That normal people can buy. Right now.
And their Genesis division is building some fine market redefining luxury sedans the likes of which Cadillac and Lincoln (Buick for that matter) forgot how to build.
Then there’s a super-strong low priced lineup from Kia making it a one-two punch combined with Hyundai focusing on transportation for REAL PEOPLE – kinda like what GM used to do. Just how many absurd Hummers will gm push as second cars to Elites feeling like they have to kowtow to the “environmental” movement before they market themselves right out of existence? Great management alright.
Freaking Hyundai is doing far a better job being GM than gm, thus the lowercase revision to match their rapidly receding relevance in the automotive marketplace. Big Three? WHAT Big Three??
Sorry, I couldn’t get past “Barra say her pay swell to $29 million.” Can GMA not find English speaking writers? Or is this just new millennial journalism where grammar doesn’t matter,
For the record: Akio Toyoda was paid $1.9M; Stefan Quandt was paid $3.7M. These are both owners of their companies.
Sadly GM has no formal family owner thus they serve themselves with the big spoon.
I must say that 29 million for a hired employee is just stupid. Unless you own the company it is a big part of what is wrong with our world, when nurses and teachers earn crap and these people earn generational wealth.
That being said I bought my first GM & American car in 2020, and it has been flawless. At the same time my new Acura pissed me off for poor quality. So GM is doing something right.
If she could have delivered my Zl1 1LE that’s never been accepted by GM as an order,I’d suggest her compensation was too low.
She might not be great at this car business stuff, but she and GM are very Woke and that’s the important thing, right?
Mary Barra has done a great job, I’m a fan of her.
GM has given us fans some amazing products since 2016.
Keep it up!
That’s a joke tight ?
I don’t understand why she gets so much hate. If you compare the products they’ve made from 2000-2014 to the products they’ve made from 2014-2022 (which was when she became CEO of GM), I am really excited about many of the products we are getting right now. The state of the automotive industry in the past couple years is mainly because of the pandemic. If I had $200k to spend on cars right now, I would buy all GM products. C8 Vette Z06, Camaro SS, Cadillac CT4-V. Price for value, GM makes better cars than pretty much any other brand right now.
Probably because she lies do much
All interesting comments
problem going forward is 100% Electric no hybrid OPTION
making great products and making customers wait up to a year to take delivery
Rg
For what ? Lol
I just read about GM putting mandatory subscriptions on things in their cars. If this is true ,I’ll cancel my Bolt order and shop elsewhere