“Highly qualified top managers currently have a good negotiating position,” said an EY expert.
Munich According to a study, women as board members of listed companies earn on average significantly more than their male colleagues. The lead even increased by 150,000 to 550,000 euros last year, the EY auditors determined in the study published on Friday. CEOs are excluded.
In the 160 companies of the major stock market indices Dax, MDax, SDax, female board members in 2020 received an average direct compensation of 2.31 million euros, men 1.76 million euros. While board members received 8.2 percent more than a year earlier, it was only 1.6 percent for men. However, women are still clearly in the minority on the boards.
For EY remuneration expert Jens Massmann, this is also a reason for the positive salary development: “Highly qualified top managers currently have a good negotiating position.” Many companies have now introduced quotas for women for the board of directors and supervisory boards. According to a law passed in the summer, at least one woman must sit on the executive boards of listed companies with more than 2000 employees if the board consists of four or more members.
According to the study, 18 percent of the board members in the Dax-30 were female (21 of 116) at the end of last year, slightly more than at the end of 2019 (16.5 percent). Across all indices it was only 13 (10.7) percent (45 of 346). The only CEO of a DAX group is – even after the expansion of the leading index to 40 members – Belen Garijo at the Darmstadt-based pharmaceutical and life science group Merck.
Top jobs of the day
Find the best jobs now and
be notified by email.
More: Management boards and supervisory boards now even more male in the most important stock market index