German female executives power ahead of males in pay

Women on the executive boards of listed German companies, while still relatively few in number, are powering ahead of their male counterparts in the pay stakes, a survey by business consultants and auditors EY has found, reported dpa.

Total remuneration for women on executive boards in the DAX family rose by 8.2 per cent in 2020, to an average of 2.31 million euros, according to the survey published on Friday.

Male executive board members saw their pay rise by 1.6 per cent on average, to just 1.76 million euros.

The gap, equivalent to 31 per cent on top of the male earnings, was wider than ever.

"The proportion of women on the executive boards is very low as before, and is rising only slowly. Nevertheless, female executives are in a better position than their male counterparts when it comes to remuneration," EY partner Jens Massmann said.

An important factor was the drive by companies to secure women for their executives in a market in which female candidates are in short supply.

"Highly qualified top female managers currently have a strong negotiating position," Massmann said.