Women CEOs earn big pay, but rarely get the top jobs

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Marissa Mayer

AP Photo

Women CEOs earned big bucks last year, but there's still very few of them running the world's largest companies.

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The median pay for a female CEO was $13.1 million last year, up 9% from 2015, according to an analysis by executive data firm Equilar and The Associated Press. By comparison, male CEOs earned $11.4 million, also up 9%.

But the number of women in CEO roles has barely budged. Just 6% of the top paid CEOs in the US last year were women, according to the analysis, a slight increase from about 5% in 2015 and 2014.

To calculate pay, Equilar added salary, bonus, perks, stock awards, stock option awards, and other types of compensation. Equilar only looked at companies in the Standard & Poor's 500 index that filed proxy statements with federal regulators between Jan. 1 and May 1, 2017. And it only included CEOs who have been in their roles for at least two years in order to exclude sign-on bonuses. Of the 346 CEOs in that group, just 21 were women.

Experts say companies need to do more to get women into CEO roles. Janice Ellig, the co-CEO of executive search firm Chadick Ellig, says "unconscious bias" in the workplace is keeping women from getting opportunities that will put them on track to for top roles.

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Companies need to "start recognizing that gender inequality exists," says Ellig, who is also chairperson of the Women's Forum of New York. "If you don't recognize a problem, you can't solve a problem."

Here are the top six female CEOs who made the most in 2016, according to the analysis: