The 10 Highest Paid Female CEOs

The highest paid female CEOs provide leadership across a diverse array of industries, including aerospace, healthcare, technology, and energy.

Author

Sindy Smith
August 14, 2024

The 10 Highest-Paid Female CEOs of 2024

The highest-paid female CEOs provide leadership across a diverse array of industries, including aerospace, healthcare, technology, and energy.

Female CEOs are among the 10.4% of women leading Fortune 500 companies, which is higher than in previous years and represents a steady rise in women assuming top executive positions.

Here are the top 10 highest-paid female CEOs as of 2024:

1. Julie Sweet (Accenture - $31,550,906)

Image source: Time Magazine

Julie Sweet is the first woman to serve as CEO at Accenture, a position she’s held since 2019. Accenture is the largest consulting firm in the world with over 733,000 employees and generating $64.1 billion in revenue. 

Most recently, she received:

  • $1,537,500 as a salary,

  • $3,317,000 as a bonus,

  • $26,075,827 as stock, and

  • $620,579 from other types of compensation.

She also serves as Chair of the company. Apart from her leadership at Accenture, Julie serves on the World Economic Forum Board of Trustees.

Previously, she served as the CEO of Accenture’s business in North America – the company’s largest geographic market. She started her career at Accenture as general counsel, secretary, and chief compliance officer serving on the company’s global management committee.

Before working at Accenture, Sweet was a partner at Cravath, Swaine, & Moore, where she served as an attorney for 17 years and was a partner for 10.

Julie holds a Bachelor of Arts degree from Claremont McKenna College and a Juris Doctor from Columbia Law School. 

Fortune, Forbes, and the New York Times have named Julie as one of the most powerful women in corporate America.

2. Lisa Su (AMD - $30,348,281)

Image source: Technology Magazine

Lisa Su is the president, chief executive officer, and chair of the multinational semiconductor company Advanced Micro Devices (AMD).

She is Jensen Huang’s cousin, president and CEO of NVIDIA.

When she became CEO in 2014, AMD lagged behind Intel and NVIDIA and struggled with financial instability. Su’s leadership restored AMD’s competitive edge by refocusing on high-performance computing, developing innovative architectures, and launching successful products like Ryzen and EPYC processors

Most recently, Su has received:

  • $1,200,000 as a salary,

  • $1,432,800 as a bonus,

  • $5,838,512 in stock options,

  • $21,848,258 as stock, and

  • $28,711 from other types of compensation.

Su is the first woman to be honored with the Robert Noyce Medal by the Institute of Electrical and Electronics Engineers.

Born in Taiwan in 1969, Su moved to the United States at the age of 3. She earned both her bachelor's and doctorate degrees in electrical engineering at MIT.

Su started her career at Texas Instruments and advanced to key leadership positions at IBM and Freescale Semiconductor. Su joined AMD in 2012 and became CEO two years later.

3. Mary Barra (General Motors - $27,847,405)

Image source: General Motors

Barra is the first female female head of a global automobile manufacturer. 

She’s served over four decades at General Motors, having begun her career at the company in 1980 when she paid her way through college by working at GM as an undergraduate student checking fender panels and inspecting hoods.

Five years later, she would become a senior engineer at GM’s Pontiac Division, where her father also worked for nearly 40 years. She would then advance to a variety of leadership positions, eventually becoming executive vice president in 2013 and then CEO in 2014.

Most recently, she was remunerated:

  • $2,100,000+ as a salary,

  • $5,300,000+ as a bonus,

  • $4,900,000+ in stock options,

  • $14,600,000+ as stock, and

  • $900K+ from other types of compensation.

She studied electrical engineering at General Motors Institute (now Kettering University). She later earned an MBA from the Stanford Graduate School of Business.

Barra has been included in Time’s annual list of 100 most influential people in the world in 2021 and was also in Forbes’ inaugural Forbes 50 over 50. She has been named among the world's most powerful women by Forbes and Fortune.

4. Jane Fraser (Citigroup - $25,458,313)

Image source: Citigroup

Jane Fraser was the first woman to lead a major US bank when she became the CEO of Citigroup in 2021.

Fraser joined Citigroup in 2004 and has held various leadership positions within the company, including CEO of Citi Latin America, CEO of U.S. Consumer and Commercial Banking, and CEO of Citi's Global Private Bank. 

Most recently, Fraser’s pay is comprised of:

  • $1,500,000+ as a salary,

  • $3,700,000 as a bonus, and

  • $20,800,000+ as stock.

Apart from her leadership at Citi, Fraser holds leadership positions in influential organizations like the Business Roundtable and the Council on Foreign Relations. She also advises institutions like Harvard Business School and the Monetary Authority of Singapore.

Jane has an M.B.A. from Harvard Business School and an M.A. in economics from Cambridge University. She is married with two children.

5. Kathy J. Warden (Northrop Grumman - $23,532,183)

Image source: Northrop Grumman

Kathy J. Warden serves as Chair, Chief Executive Officer, and President of Northrop Grumman Corporation. 

She has been honored with the 2022 Deming Cup for Operational Excellence,  a prestigious annual award presented by Columbia Business School to recognize individuals who have made outstanding contributions to the field of operational excellence.

Her career spans significant roles at General Electric, Veridian Corporation, and General Dynamics. At Northrop Grumman, Warden has been instrumental in advancing the company’s cybersecurity division and overseeing strategic acquisitions like Orbital ATK.

Most recently, Warden has received:

  • $1,730,769 as a salary,

  • $5,082,875 as a bonus,

  • $16,000,440 as stock, and

  • $718,099 from other types of compensation.

Warden holds a bachelor’s degree from James Madison University and an MBA from George Washington University.

She also serves on the boards of Merck & Co., Inc. and Catalyst, and chairs the Greater Washington Partnership, contributing to both aerospace and defense technology sectors.

6. Carol B. Tomé (UPS - $23,390,051)

Image source: UPS

Carol B. Tomé is the 12th CEO in the 115-year history of United Parcel Service.

  • $1,509,713 as a salary,

  • $1,509,713 as a bonus,

  • $1,358,762 in stock options,

  • $18,916,192 as stock, and

  • $95,671 from other forms of compensation.

Tomé previously worked at Home Depot from 1995 to 2019, where she rose from Vice President and Treasurer to Executive Vice President and Chief Financial Officer.

She has appeared on Forbes' list of The World's 100 Most Powerful Women and The Wall Street Journal's ranking of best chief financial officers.

Tomé holds a bachelor’s degree in communication from the University of Wyoming and a master’s degree in finance from the University of Denver. 

She is also active on several boards, including Verizon Communications, Inc., the Carter Center, Grady Memorial Hospital Corporation, and the Atlanta Botanical Garden.

7. Phebe Novakovic (General Dynamics -  $22,582,776)

Image source: JPMorgan Chase

Of Serbian descent, Phebe Novakovic is a former intelligence officer who worked for the CIA and the United States Department of Defense.

As of 2024, her net worth is $450 million according to Forbes. Most recently, Fraser’s remuneration consists of:

  • $1,700,000 as a salary,

  • $4,287,000 as a bonus,

  • $4,649,716 in stock options,

  • $11,246,277 as stock, and

  • $699,783 from other types of compensation.

Novakovic has been the Chairman of the Board and Chief Executive Officer of the global aerospace and defense company General Dynamics since January 2013.

She joined General Dynamics in 2001 and served in various roles at the company including president and chief operating officer, executive vice president for marine systems, senior vice president for planning and development, and vice president for strategic planning.

Phebe graduated from Smith College and received an M.B.A. from the University of Pennsylvania Wharton School.

Novakovic also serves on the board of JPMorgan Chase. In 2018, Forbes named her one of the most powerful women in business.

8. Gail Boudreaux (Elevance Health, Inc. - $21,889,039)

Image source: Forbes

Elevance Health provides health insurance to more than 47 million members and Boudreaux brings over three decades of healthcare industry experience to her role as CEO since 2017.

Boudreaux was a former basketball player at Dartmouth College, where she still holds records for career scoring average and total rebounds. She has also earned four Ivy League shot put titles and was an All-American in track and field.

Her athletic experience influenced her business career and management philosophy, in areas including, but not limited to, goal setting, structure, resilience, and leadership. (NCAA, 2022).

During her first two years as CEO at Elevance, the company’s stock surged by 20%.

  • $1,600,000 as a salary,

  • $3,648,000 as a bonus,

  • $3,950,036 in stock options,

  • $11,850,043 as stock, and

  • $840,960 from other forms of compensation.

Recognizing the impact of sports on her professional success, Boudreaux’s family has donated $2 million to endow the Dartmouth women's basketball head coaching position. Her contributions to sports earned her a place in the New England Basketball Hall of Fame and the NCAA's Silver Anniversary Award.

9. Lynn J. Good (Duke Energy - $20,215,105)

Image source: Forbes

Lynn J. Good is the Chairman, President, and CEO of Duke Energy, one of the largest electric power holding companies in the United States. She assumed the role of CEO in July 2013 and was named Chairman in January 2016. 

  • $1,500,000 as a salary,

  • $1,739,063 as a bonus,

  • $16,021,168 as stock, and

  • $954,874 from other forms of compensation.

As CEO, Good is focused on steering the company’s clean energy initiatives, expanding renewable energy sources, and moving toward environmental sustainability.

Good is also a board member at The Boeing Company, the largest aerospace company.

She graduated from Miami University with a double major in accounting and systems analysis.

10. Adena Friedman (Nasdaq - $18,498,752)

Image source: Nasdaq

Adena Friedman became the first woman to lead a global exchange company when she became CEO in 2017.

She joined Nasdaq in 1993 as an unpaid intern. For over two decades, she held key positions at the company such as head of the Nasdaq’s data products business, head of corporate strategy, as well its Chief Financial Officer.

Friedman took a brief hiatus from Nasdaq in 2011 to become CFO at The Carlyle Group, a private investment firm. She returned in 2014 to become President and then CEO three years later.

  • $1,250,000 as a salary,

  • $4,653,812 as a bonus,

  • $12,551,660 as stock, and

  • $43,280 from other types of compensation.

Friedman has a black belt in Taekwondo. 

She earned a bachelor's degree in political science from Williams College and an MBA from Vanderbilt University's Owen Graduate School of Management.

In the United States and globally, the percentage of women in senior management roles has already been increasing steadily over the past years.

MSCI reports that reports that women held 25.8% of board seats at large- and mid-cap companies, up over a percentage point from 2022.

Forbes also reports that women held 10.4% of leadership positions at Fortune 500 companies, the highest compared to previous years. 

Looking ahead, the percentage of female CEOs is expected to rise, reflecting ongoing shifts in corporate leadership.

References:

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AMD. (n.d.) Dr. Lisa Su, Chair and Chief Executive Officer.https://www.amd.com/en/corporate/leadership/lisa-su.html 

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