After my post “womenomics – the end of men in finance?” earlier this week, let’s move away from just titles and see who brings home the bacon.
Fortune just published the list of the best paid 25 female powerhouses, and women in finance are taking center stage. What that tells us, and I will get back to the point in a minute, is that women are fine with having the men be on the cover and in the limelight, while they run things.
A few general comments:
1. Oracle’s Safra Katz leads the way with some $52 million in total 2011 comp. Yes, Larry Ellison has the yacht and the glory, but there are 52 million good reasons to run Oracle’s finances.
2. Ever heard of Annaly Capital Management? No? Me neither. Well, Wellington Denahan-Norris (CFO/COO) with $35 million was second on the big buck list, Kathryn Fagan as treasurer with $13 million ranked 11th. Annaly, founded in 1997 as a Real Estate Investment Trust, is the largest mortgage REIT listed on the New York Stock Exchange.
3. Real estate pays really well: aside from Annaly, Debra Cafaro, Chairman and CEO of Ventas, ranked fourth wi $18.5 million. Ventas – I had no idea – is the leading seniors housing and healthcare real estate investment trust (REIT) in the United States, with a highly diversified portfolio of over 1,400 seniors housing and healthcare properties in 46 states, the District of Columbia and two Canadian provinces.
4. Mary Erdoes, who runs JP Morgan Asset Management (the only CEO among US asset management firms), ranked 8th with $15 million last year. Ina Drew at JP Morgan Chase took home a similar amount, but took the fall after the multi-billion dollar synthetic credit portfolio trading loss at the chief investment office (which she led). Ruth Porat, CFO for Morgan Stanley, came in at 15, with $11 million.
5. Other industries with women amongst the top earners were social media (Sheryl Sandberg/Facebook), technology (Meg Whitman/HP, Carol Bartz/Yahoo), food (Irene Rosenfeld/Kraft, Indra Nooyi/PepsiCo), health insurance (Angela Braly/WellPoint – she resigned last month though), oil (Ellen Kullman/DuPont), and fashion (Jackwyn L. Nemerov/Polo Ralph Lauren).
Last but not least, Claressa Shields this summer won the first U.S. women’s boxing gold in Olympic history. The glass ceiling is officially punched through.
So, men, in case you are being outearned, consider yourself lucky not be be knocked out… get in the ring.
I invite you to follow me on twitter @danenskat
(c) Enskat Associates 2012



