Mary Barra has shattered the glass ceiling at General Motors and discovered there's a Cristal ceiling above that one. But it could be worse. She could have to assemble cars for a living!
Barra, the Detroit automaker's newly tapped CEO—and Michelle Obama's guest at last month's State of the Union—stands to make $4.4 million annually in salary and compensation. That's far less than her male predecessor Dan Akerson, according to CBS News:
Akerson earned $9.1 million in 2012, which included $1.7 million in salary and stock awards of $7.3 million.
Akerson's continuing pay as a senior adviser may raise even more eyebrows, given that he's entitled to $4.68 million, more than Barra is slated to earn.
GM responded to the charges of pay inequity by explaining in a release that Barra also has long-term incentives coming, which will be announced in April. It never addressed that fact that her base salary, $1.6 million, is less than what Akerson's still going to be paid as a consultant to the company.
GM also never addressed the fact that all of these sums are ungodly, and the average GM worker made 40 bucks an hour the last time solid figures were published a few years back. Barra will make roughly $769.23 an hour just in base pay. Add in her incentives (so far), and her hourly is $2,115.38, or 53 times what her average worker makes.
God punished GM for all this yesterday with a 13 percent drop in its fourth quarter global profits.
[Photo credit: AP]