General Motors CEO Mary Barra had the highest executive salary among the Big Three in 2020 earning $ 23.7 million. She has a base salary of $ 2 million, but also enjoys short-term incentives of $ 3.8 million and $ 13.1 million in inventory, according to Automotive news.
In 2020, Mike Manley was the CEO of Fiat Chrysler Automobiles before it merged with PSA to become Stellantis, and he earned $ 14.2 million. Ford changed CEOs in October 2020. Former boss Jim Hackett, $ 16.7 million, and new entrant Jim Farley received $ 11.8 million last year.
Ford CEO Jim Farley
Tesla also announced its executive compensation. Elon Musk did not receive a salary in 2020. However, he has reached six of the predetermined milestones of his contract. This gives him the opportunity to buy 50.6 million shares of the automaker for $ 70.01 per share. As of this writing, the company is trading at just under $ 700 per share, which means Musk could make around $ 32 billion by selling the share, according to Business intern. However, his deal says he must hold the shares for five years before he can sell.
To compare to CEOs of other automakers, Ferrari boss Louis Camilleri served the automaker until he suddenly stepped down on December 10, 2020, but still earned € 375,846 ($ 453,365 at rates of current changes) for the year. Of these € 363,960, it was his salary and € 11,886 in social benefits, including access to a Ferrari company car.
Daimler CEO Ola Kallenius earned 1.34 million euros ($ 1.6 million) in salary in 2019 and 3.5 million euros ($ 4.2 million) in bonuses. In 2020, he suffered a 20% pay cut as part of the automaker’s response to the COVID-19 outbreak, Automotive news Europe reported.
Information on the salaries of CEOs of Japanese automakers is more difficult to find. In 2018, Akio Toyoda earned 379 million yen ($ 3.5 million at the current exchange rate).