Highest-Paid Female CEO in the World and India: Salary, Compensation and Leadership

Women are leading some of the world’s largest businesses across technology, banking, healthcare and pharmaceuticals. Their compensation packages also highlight how executive pay is linked to company performance, stock awards and long-term incentives.

According to the 2026 Equilar–Associated Press CEO Pay Study, Jane Fraser, CEO of Citigroup, was the highest-paid woman in its 2025 S&P 500 analysis, with total reported compensation of approximately US$95.8 million. In India, a report published in October 2026 identified Vinita Gupta, CEO of Lupin, as the country’s highest-paid female CEO, with reported remuneration of ₹26.69 crore for FY2025–26. These rankings use different datasets and should not be treated as a direct comparison.

Who Is the Highest-Paid Female CEO in the World?

Jane Fraser, the Chief Executive Officer of Citigroup, tops the 2026 Equilar–Associated Press study’s list of highest-paid women CEOs for 2025. Her reported total compensation was US$95.76 million.

Fraser became CEO of Citigroup in March 2021, making her the first woman to lead a major US bank. Her role involves overseeing the bank’s global operations, financial strategy and business transformation.

Her reported compensation reflects the broader structure of executive remuneration in large publicly listed companies. CEO pay can include a fixed salary, annual bonuses, stock awards, stock options and other benefits. Consequently, total compensation is not the same as the amount received as cash salary during the year.

The 2026 Equilar–Associated Press report also listed AMD CEO Lisa Su as the second-highest-paid woman in its 2025 analysis, with approximately US$55.16 million in total compensation. General Motors CEO Mary Barra followed with nearly US$29.90 million.

These figures refer to the study’s selected S&P 500 companies and reporting methodology. They do not establish a definitive ranking of every female CEO across every country and privately held business worldwide.

Who Is the Highest-Paid Female CEO in India?

Vinita Gupta, Chief Executive Officer of Lupin, was identified as India’s highest-paid female CEO in a report published in October 2026. The report placed her FY2025–26 remuneration at approximately ₹26.69 crore. Source: SME Futures.

Gupta leads Lupin, a pharmaceutical company with a global presence across India, the United States and other international markets. Under her leadership, the company continues to focus on pharmaceutical products, research, specialty medicines and expansion across key markets. Lupin’s FY2025–26 integrated report identifies Gupta as its CEO.

The reported remuneration figure should be understood as total executive compensation rather than base salary alone. The exact components included in a compensation package can differ between companies and financial years.

Other Highly Paid Female CEOs to Know

Several other women lead major companies and feature in executive compensation discussions.

Leader	Company	Reported compensation
Jane Fraser	Citigroup	US$95.76 million, FY2025
Lisa Su	Advanced Micro Devices (AMD)	US$55.16 million, FY2025
Mary Barra	General Motors	US$29.90 million, FY2025
Vinita Gupta	Lupin	₹26.69 crore, FY2025–26, as reported
Priya Nair	Hindustan Unilever	₹18.19 crore, FY2025–26, as reported

The global figures are from the Equilar–Associated Press CEO Pay Study. The Indian figures are reported by SME Futures; they are shown for context and are not a standardised ranking of all Indian companies.

How Is a CEO’s Salary Calculated?

A CEO’s compensation package generally includes several components:

• Base salary: The fixed annual amount paid for the role.
• Performance bonus: Variable pay linked to financial, operational or individual targets.
• Stock awards: Shares granted under company compensation plans.
• Stock options: The right to purchase shares under specified conditions.
• Other benefits: Retirement contributions, insurance, allowances and other disclosed benefits.

Stock-based awards can make a large difference to reported total compensation. Their reported value may not equal the cash a CEO receives, and the eventual value of shares or options can change over time.

The Associated Press’ explanation of its CEO-pay methodology outlines how salary, bonuses, perks and equity awards are combined to calculate total compensation.

What Do These Figures Tell Us About Women in Leadership?

The compensation of these executives demonstrates that women hold influential leadership positions in major global and Indian businesses. Their work spans financial services, semiconductor technology, pharmaceuticals and consumer goods.

However, a high salary alone does not measure leadership quality or business impact. Company performance, long-term strategy, governance, employee outcomes and industry conditions are also relevant when assessing an executive’s contribution.

It is equally important to recognise that a small group of highly paid leaders does not represent the experience of all women in the workforce. Executive compensation rankings offer one perspective on corporate leadership, but they do not by themselves establish that pay equality has been achieved.

Frequently Asked Questions

Who is the highest-paid female CEO in the world?

Jane Fraser of Citigroup was the highest-paid woman in the 2026 Equilar–Associated Press study of qualifying S&P 500 CEOs, with reported total compensation of approximately US$95.76 million for 2025.

Who is the highest-paid female CEO in India?

An October 2026 report identified Vinita Gupta, CEO of Lupin, as India’s highest-paid female CEO, with reported remuneration of ₹26.69 crore for FY2025–26.

Is CEO compensation the same as salary?

No. Total compensation can include base salary, bonuses, stock awards, stock options and other benefits. It should not be interpreted as cash salary alone.

Why do CEO pay rankings change every year?

Rankings change as company performance, stock awards, incentives and executive roles change. The results also depend on the companies and financial years included in each study.

Conclusion

Jane Fraser and Vinita Gupta are among the most prominent names in current reports on highly paid female CEOs. The Equilar–Associated Press study places Fraser at the top of its 2025 S&P 500 analysis, while a recent Indian report identifies Gupta as the country’s highest-paid female CEO for FY2025–26.

Their reported compensation also illustrates why executive pay should be assessed using total remuneration, reporting periods and clear source definitions. Comparing these details gives readers a more accurate picture than looking at salary figures alone.