As board members of listed companies, women earn significantly more than their male colleagues!
The lead increased by 150,000 to 550,000 euros last year, the EY auditors determined in a study published on Friday.
▶ ︎ In the 160 companies of the major stock market indices Dax, MDax and SDax, female board members received an average of 2.31 million euros in 2020, while men “only” 1.76 million euros.
And: The lead has increased significantly compared to the previous year. While female managers received 8.2 percent more than in 2019, the increase in wages for men was only 1.6 percent.
However: The study takes into account everyone on the board – except for the chief executives. But the bosses in particular earn more than everyone else. And they are almost always men …
▶ ︎ In the Dax30 (since September: Dax40) of the largest German companies there is only one CEO: Belen Garijo at the Darmstadt-based pharmaceutical and life science group Merck.
▶ ︎ 18 percent of the board members in the Dax-30 are women (21 out of 116), across all indices it was only 13 percent in 2020 (45 out of 346) – an improvement compared to 2019 (16.5 percent in the Dax or 10.7 in Dax, MDax and SDax).
▶ ︎ This clear minority position could also be the explanation for the new pay gap among top managers.
The possible reason for the wage explosion for women: A quota was passed by law in the summer, the pressure on companies is increasing – they MUST promote women. The result: The few women who are invited to board members have a much better negotiating position.
What has changed compared to before: If a listed company has more than 2000 employees and the board consists of at least four members, at least one woman MUST be on the board.