Top 10 Highest Paid Female Executives in Retail

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Top 10 Highest Paid Female Executives in Retail

By Christina Zarrello - 03/17/2009
Is there a glass ceiling in retailing? Not for the executives on this list, which shows females are increasingly joining the elite club of CEOs, presidents and other high-level positions in retail organizations throughout the country. As a result of breaking through, these females are among the highest wage earners in America. Our list of Top 10 Highest Paid Female Executives in Retail includes some of the biggest organizations in retailing including Macy's, TJX, Ann Taylor and others.

Although female retail executives have made huge strides throughout the years, a pay gap still exists between female executives and their male counterparts. Forbes Magazine estimated in 2008 that the average male CEO's salary and bonus was $12.8 million - double the female average of $6.5 million. On an encouraging note, the percentage of women holding corporate officer positions has increased to 15 percent in 2008 compared to 12 percent in 2000 according to Catalyst, a nonprofit devoted to encouraging diversity in the workplace.

RIS calculated each female executive's salary based on a base salary plus bonuses awarded for business performance over the past year. Surprisingly, two female executives from Abercrombie & Fitch and Macy's make this short list of retail's highest wage earners.

Here are retail's top female wage earners:

Top 10 Highest Paid Female Executives in Retail

1) Andrea Jung, Chairman and CEO, Avon
Total Compensation: $13.7 million 
 
2) Trudy Sullivan, President and CEO, Talbot's
Total Compensation: $6.9 million

3) Katherine L. Krill, CEO, President and Director, Ann Taylor Stores
Total Compensation: $6.86 million

4) Carol M Meyrowitz, CEO, TJX
Total Compensation: $5.67 million

5) Susan P. McGalla, Executive Officer, President, American Eagle Outfitters
Total Compensation: $4.86 million

6) Leslee K. Herro, Divisional Executive Vice President, Abercrombie & Fitch
Total Compensation: $4.59 million

7) Diane Chang, Divisional Executive Vice President, Abercrombie & Fitch
Total Compensation: $4.58 million

8) Susan D. Kronick, Divisional Vice Chairman, Macy's
Total Compensation: $3.81 million

9) Janet E. Grove, Divisional Vice Chairman, Macy's
Total Compensation: $3.22 million

10) Mary F Sammons, CEO, Rite Aid
Total Compensation: $3.07 million

Although female retail executives rank highly on a list of highest paid officers, they are far from the top. The highest paid female executive is Sharilyn Gasaway, executive vice president and CFO of Alltel, who reportedly made a staggering $38.6 million according to Fortune's 2008 report of Highest Paid Women. To view Fortune's list and find out what other female executives earned click here.

To develop this list of Top 10 Highest Paid Female Executives in Retail, RIS researched the latest financial figures posted for retail executives of large publicly traded companies based on SEC filings. It is likely some private retail companies have highly paid female executives, but public records of these companies are not available for review.

For more information on top paid retail executives see:

Top 10 Highest Paid Retail CEOs

Top 10 Highest Paid Retail CIOs