Are Female Top Managers Really Paid Less?

P.H.M. Geiler, L.D.R. Renneboog

Research output: Working paperDiscussion paperOther research output

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Abstract

Abstract: Are female top managers paid less than their male counterparts? Is the gender gap higher in male-dominated industries? What effect on pay do female non-executive directors and remuneration consultants exert? While we find no pay gap for the figure-head (CEO), there is strong pay discrimination at the level of the other top managers. These female executive directors earn over a five-year tenure period £1.3 million less than male directors, and this pay gap is visible for all components of pay. The pay gap is lower for executives in firms with one or more female non-executives. Female executives in ‘male’ industries receive less remuneration than male executives but the gender pay gap is smaller. The advice of top remuneration consultants does not reduce the pay gap.
Original languageEnglish
Place of PublicationTilburg
PublisherFinance
Number of pages43
Volume2014-004
Publication statusPublished - 2014

Publication series

NameCentER Discussion Paper
Volume2014-004

Fingerprint

Managers
Remuneration
Industry
Consultants
Gender gap
Chief executive officer
Tenure
Non-executive directors
Gender pay gap
Discrimination

Keywords

  • executive compensation
  • gender pay gap
  • gender discrimination
  • pay-for-performance
  • glass ceiling
  • glass cliff

Cite this

Geiler, P. H. M., & Renneboog, L. D. R. (2014). Are Female Top Managers Really Paid Less? (CentER Discussion Paper; Vol. 2014-004). Tilburg: Finance.
Geiler, P.H.M. ; Renneboog, L.D.R. / Are Female Top Managers Really Paid Less?. Tilburg : Finance, 2014. (CentER Discussion Paper).
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Geiler, PHM & Renneboog, LDR 2014 'Are Female Top Managers Really Paid Less?' CentER Discussion Paper, vol. 2014-004, Finance, Tilburg.

Are Female Top Managers Really Paid Less? / Geiler, P.H.M.; Renneboog, L.D.R.

Tilburg : Finance, 2014. (CentER Discussion Paper; Vol. 2014-004).

Research output: Working paperDiscussion paperOther research output

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Geiler PHM, Renneboog LDR. Are Female Top Managers Really Paid Less? Tilburg: Finance. 2014. (CentER Discussion Paper).