Fact or fiction: Is GM CEO Mary Barra getting paid less?
Photo courtesy General Motors.
(WXYZ) - Is the new GM CEO Mary Barra being paid less than the man she replaced? The story is creating a lot of buzz. Barra breaks through the so-called glass ceiling, but then doesn't receive equal pay. And this, after she's celebrated in primetime by President Barack Obama. But is it true? Is Barra getting less than Dan Akerson? We broke down the numbers and talked to General Motors to figure out what's fact - and fiction. Fact: Barra's salary is less: $1.6 million compared to Akerson's 1.7 million in 2012. Also fact: Barra's short-term stocks are less. Barra is getting just $2.8 million to Akerson's 7.3 million. But to think that's all Barra will be paid is pure fiction, according to General Motors.
The company says reporters have missed a huge part of her pay package--all those long-term stock incentives, the kind that could be tied to company performance and be worth millions.
The company won't reveal those numbers until a stock market filing in April and in statement, GM says that the announcement "will dispel any notion of pay inequity."