People Saying “The Glass Ceiling Has Been Shattered” Is Beginning to Remind Us of When Bush Declared “Mission Accomplished”

Bloomberg has found that female heads of companies earn “substantially more” than their male counterparts—averaging over $14 million annual pay, and getting double-digit raises in 2009 while men took pay cuts.
“When you see numbers like this, one can truly say that the glass ceiling in corporate America has been shattered,” said Frank Glassner, CEO of San Francisco-based Veritas Executive Compensation Consultants LLC. “I don’t remember seeing women ever getting paid more than men.”
Hang on there, Frank. All this is well and good, but it comes with a HUGE caveat. For starters, only 16 of the companies in the S&P 500 are actually headed by women. And, as abcnews.com notes, it’s possible that these women are making so much because CEO salaries are transparent, and no board would underpay a female CEO “for fear of public backlash.”
Plus, as we all know too well by now:
In the broader workforce, women working at least 35 hours a week in the first quarter of 2010 received 79 percent of the wages earned by men, according to the U.S. Labor Department. Female heads of companies of all sizes made about 75 percent of what men did in a 2009 department survey of 1.1 million CEOs. About 24 percent were women.
Pay riches for women CEOs at big companies may be “an important indicator, but not a milestone because of what happens down the line” among average workers.
That Bloomberg would declare the glass ceiling shattered some seven paragraphs before introducing some critical caveats is irksome (but also totally not surprising), so we like abc’s takeaway better:
The hope is that the few who have made it to the top can start that change from the highest levels.
We hope so too.


