Overview

• Average pay for female board members excluding CEOs fell to €2.15 million in 2024 as male pay edged up to €2.27 million, marking the first time since 2014 that women earned less on average.
• Overall board remuneration across DAX, MDAX and SDAX companies declined about 3% to roughly €2.65 million.
• The largest disparity appeared in the DAX, where women averaged €2.92 million versus €3.38 million for men, a gap close to €0.5 million.
• EY analyzed total compensation for 368 executives who served the full year, identifying a record 88 women, or 23.9% of the sample.
• Variable pay makes up about 70% of board compensation; top earners included Volkswagen’s Oliver Blume at about €11.56 million and Merck’s Belén Garijo at about €7.63 million.