Looking for a raise, or even an increase in base salary? Then join Ford now.
Ford Motor Co. paid president and CEO Mark Fields $22,102,498 in total compensation in 2016, more than $3 million above what he earned in 2015.
Fields’ 2016 paycheck is shy of the $23,204,534 that former CEO Alan Mulally made in 2013, his last full year at Ford.
The nearly 19 percent jump Fields saw last year can be explained by an increased base salary, stock awards and an increase in pension value, which grew from $858,157 in 2015 to $2,845,003 in 2016. The company does not control pension values, which vary from year to year due to changes in interest rates and government-issued mortality tables.
Fields, 56, who became Ford’s president and CEO in 2014, earned a base salary in 2016 of $1,787,500, up $37,500 or 2.1 percent from the year before. His total compensation included a $2,736,000 bonus for meeting performance targets in five different segments of the company.
According to Ford’s proxy statement, which was released Friday, the automaker paid $288,965 for Fields’ use of a private airplane.
If you are stuck in the GM salary bin, then don’t worry, you are in good hands. GM Chairman and CEO Mary Barra earned total compensation of $28.59 million in 2015, up nearly 77 percent from 2014, due mostly to a one-time stock option grant aimed at retaining senior executives. She received $7.3 million in compensation (including salary, a short-term incentive plan payout and stock equity awards that vested) in 2015, up from $4.5 million in 2014.
Now I know these CEO’s are the nominal heads of huge corporations, but are they worth over 20 million a year? Really?