the former Pepsi Co-Chief Executive Officer Indra nooyi, one of the few women of color running a large public US company, said she never asked for a raise and once turned one down during a financial crisis.
“I’ve never, ever asked for a pay raise,” Nooyi said in an interview with the New York Times magazine this week. “I find it awkward. I can’t imagine working for anyone and saying my salary isn’t enough.”
Only 31 women run companies in the S&P 500, and the number was even lower after Nooyi stepped down in 2018. People who earn less. In her final year of the job, Nooyi was unable to rank close to the top for executive pay in public companies in the US – most women did not. That year, Safra Catz of Oracle Corp. was the highest-paid female CEO in Bloomberg’s executive compensation ranking, ranking 33rd on the list.
“I never asked my board to give me more money,” Nooyi said in a New York Times interview. “In fact, one year the board gave me a pay raise and I said, ‘I don’t want that.’ He said, ‘Why not?’ It was right after a financial crisis, and I said, ‘I don’t want a pay raise.'”
Early on, when Nooyi was still at Pepsi, a research organization suggested that women did not negotiate their pay as frequently as men, a possible contributor to the gender pay gap. Sheryl Sandberg’s “Lean In” famously told women to just ask and they’ll get it. Since then, research from McKinsey & Company and LeanIn.org found that women were just as involved in the process as men. But, there was a catch: He was less likely to find them, which may explain his early frugality.
Nooyi is now Amazon.com Inc. and has recently published a memoir titled “My Life in Full”.
Since her tenure at Pepsi, CEO salary packages have only increased and last year only five of the country’s 100 top-paid executives were women.
“I’ve never, ever asked for a pay raise,” Nooyi said in an interview with the New York Times magazine this week. “I find it awkward. I can’t imagine working for anyone and saying my salary isn’t enough.”
Only 31 women run companies in the S&P 500, and the number was even lower after Nooyi stepped down in 2018. People who earn less. In her final year of the job, Nooyi was unable to rank close to the top for executive pay in public companies in the US – most women did not. That year, Safra Catz of Oracle Corp. was the highest-paid female CEO in Bloomberg’s executive compensation ranking, ranking 33rd on the list.
“I never asked my board to give me more money,” Nooyi said in a New York Times interview. “In fact, one year the board gave me a pay raise and I said, ‘I don’t want that.’ He said, ‘Why not?’ It was right after a financial crisis, and I said, ‘I don’t want a pay raise.'”
Early on, when Nooyi was still at Pepsi, a research organization suggested that women did not negotiate their pay as frequently as men, a possible contributor to the gender pay gap. Sheryl Sandberg’s “Lean In” famously told women to just ask and they’ll get it. Since then, research from McKinsey & Company and LeanIn.org found that women were just as involved in the process as men. But, there was a catch: He was less likely to find them, which may explain his early frugality.
Nooyi is now Amazon.com Inc. and has recently published a memoir titled “My Life in Full”.
Since her tenure at Pepsi, CEO salary packages have only increased and last year only five of the country’s 100 top-paid executives were women.
.