General Motors (GM, Financial) CEO Mary Barra's total compensation for 2024 is $29.5 million, a 6% increase from the previous year, according to the company's SEC filing. Barra's pay is 310 times the median employee salary of $95,111. She leads the Detroit automakers with the highest compensation, reflecting her effective leadership in achieving significant profits and stock growth over the past year. GM's stock rose by 50% in 2024, attributed to strong execution in its internal combustion engine business and strategic investments in electric vehicles and software.
Barra's compensation package includes a $2.1 million base salary, unchanged since 2017, $19.5 million in stock awards, $6.6 million from incentive plans, and $1.2 million in additional compensation such as benefits and company vehicles.
In comparison, Ford CEO Jim Farley received $24.9 million in 2024, a 6.1% decrease due to unmet internal quality targets. Despite improvements in recalls, Ford still faces quality control challenges. Meanwhile, former Stellantis CEO Carlos Tavares, who stepped down in late 2024, earned $24 million, down from $39.5 million in 2023. Stellantis reported a $5.8 billion profit for the year, but a $133 million loss in the second half affected executive pay.
