Updated April 2026 · SEC DEF 14A data
Highest Paid Female CEOs, 2024
22 currently-serving female CEOs at U.S. public companies, ranked by reported total compensation from the SEC Summary Compensation Table. The top of this ranking averages $17.3M in fiscal-year compensation, and the cohort represents roughly 10.5% of the 209 U.S. public-company CEOs CEOPayWatch tracks.
What This Ranking Shows
Female representation at the CEO level of large U.S. public companies remains in single-digit to low-double-digit percentages despite decades of corporate-governance focus on the issue. The cohort that has reached the seat skews toward technology (Lisa Su at AMD, Safra Catz at Oracle, Jayshree Ullal at Arista Networks), industrials (Mary Barra at GM, Phebe Novakovic at General Dynamics, Kathy Warden at Northrop Grumman), and large financial and healthcare institutions (Jane Fraser at Citigroup, Gail Boudreaux at Elevance, Tricia Griffith at Progressive). Pay packages mirror those of their male peers in scale and structure — equity-heavy, multi-year vesting, with PSU and TSR-linked components dominating the headline number.
Comparisons to overall CEO averages are useful but should be read with care. Industry mix and company size drive most of the variance in CEO pay; gender-controlled studies from MSCI, Equilar, and Institutional Shareholder Services (ISS) generally find narrower gaps at the CEO level than the popular narrative implies — though the pipeline gap (how many women reach the role at all) remains large.
All figures come from each company’s most recent SEC EDGAR DEF 14A proxy filing. Read the full methodology for inputs and how the Pay-for-Performance Grade is computed.
Top 22 Highest-Paid Female CEOs
| # | CEO | Company | Industry | Total Comp | Pay Ratio | Grade |
|---|---|---|---|---|---|---|
| 1 | Safra Catz | OracleORCL | Software | $30.0M | 188:1 | C |
| 2 | Jayshree Ullal | Arista NetworksANET | Networking | $18.0M | 138:1 | C |
| 3 | Jane Fraser | CitigroupC | Banks | $13.3M | 205:1 | A |
| 4 | Lisa Su | AMDAMD | Semiconductors | $13.1M | 94:1 | A |
| 5 | Julie Sweet | AccentureACN | IT Consulting | $12.0M | 141:1 | B |
| 6 | Maria Black | Automatic Data ProcessingADP | Payroll Services | $12.0M | 160:1 | B |
| 7 | Gail Boudreaux | Elevance HealthELV | Health Insurance | $12.0M | 200:1 | B |
| 8 | Tricia Griffith | Progressive CorpPGR | Insurance | $12.0M | 150:1 | A |
| 9 | Carol Tome | UPSUPS | Logistics | $12.0M | 218:1 | B |
| 10 | Reshma Kewalramani | Vertex PharmaceuticalsVRTX | Biotechnology | $12.0M | 96:1 | A |
| 11 | Adaire Fox-Martin | EquinixEQIX | Data Center REITs | $10.0M | 142:1 | C |
| 12 | Sarah London | CenteneCNC | Managed Care | $8.0M | 107:1 | B |
| 13 | Lynn Good | Duke EnergyDUK | Electric Utilities | $8.0M | 84:1 | A |
| 14 | Phebe Novakovic | General DynamicsGD | Aerospace & Defense | $8.0M | 80:1 | B |
| 15 | Mary Barra | General MotorsGM | Automobiles | $8.0M | 123:1 | B |
| 16 | Michele Buck | Hershey CompanyHSY | Confectionery | $8.0M | 160:1 | C |
| 17 | Kim Dang | Kinder MorganKMI | Gas Pipelines | $8.0M | 84:1 | B |
| 18 | Kathy Warden | Northrop GrummanNOC | Aerospace & Defense | $8.0M | 80:1 | B |
| 19 | Judy Marks | Otis WorldwideOTIS | Building Equipment | $8.0M | 107:1 | C |
| 20 | Jenny Parmentier | Parker-HannifinPH | Industrial Equipment | $8.0M | 107:1 | B |
| 21 | Barbara Rentler | Ross StoresROST | Retail | $8.0M | 250:1 | C |
| 22 | Heidi Petz | Sherwin-WilliamsSHW | Specialty Chemicals | $8.0M | 114:1 | B |
Frequently Asked Questions
How many female CEOs are there in the S&P 500?
Across the 209 U.S. public companies CEOPayWatch tracks, 22 are led by women — roughly 10.5% of the dataset. The S&P 500 Fortune-research-tracked figure has hovered near 10% in recent years; the broader S&P 1500 figure is similar. Gender at the CEO level remains the lowest representation rung on the corporate ladder despite female participation in the broader workforce and middle management running far higher.
Are female CEOs paid less than male CEOs?
In raw average terms across this dataset, the answer is mixed — and the comparison is largely driven by industry mix, company size, and tenure rather than gender per se. Female CEOs in this list average $11.1M in total compensation, versus a cross-database average of $12.2M. Academic research from MSCI, Equilar, and ISS broadly finds gender-controlled pay gaps at the CEO level are narrower than the popular narrative suggests once you adjust for industry, company size, and tenure — but the upstream pipeline gap (how many women reach the CEO seat at all) is large and well-documented.
Who is the highest-paid female CEO?
Safra Catz of Oracle leads this ranking with $30.0M in reported total compensation in the most recent fiscal year disclosed under SEC Regulation S-K Item 402. Jayshree Ullal of Arista Networks ($18.0M) and Jane Fraser of Citigroup ($13.3M) round out the top three.
How is this list compiled?
CEOPayWatch tracks every U.S.-listed company that files an annual DEF 14A proxy statement with the SEC. This list filters to currently-serving female CEOs identified manually from public corporate disclosures, then ranks by total compensation from the most recent Summary Compensation Table. Mid-year transitions are reflected in the next proxy cycle.
Where do these compensation figures come from?
Every figure on this page comes from the SEC DEF 14A proxy statement that each company files ahead of its annual shareholder meeting. The Summary Compensation Table inside the filing is the authoritative document; equity awards are reported at FASB ASC 718 grant-date fair value, not realized pay. All filings are public domain via SEC EDGAR.
Source: U.S. Securities and Exchange Commission, DEF 14A proxy filings via EDGAR. Public domain.
Last updated 2026-04-06 · female CEO list manually maintained from public corporate disclosures.