GM’s Mary Barra is once again Detroit’s highest paid auto executive

While headline profits dropped in 2024, General Motors' $GM ( ▲ 0.79% ) internal benchmarks told a different story. And for CEO Mary Barra, that meant a pay raise and a return to the top spot as the highest-paid Detroit auto executive.

Driving the news: Barra earned $29.5 million in total compensation last year—a 5.9% increase from 2023, according to GM’s latest SEC filing.

• The raise comes despite GM’s net income dropping 41%, primarily caused by losses in China and the repositioning of its Cruise robotaxi unit.

• But GM says Barra’s pay largely reflects a different metric—record pretax earnings of $14.9 billion, which led to higher stock and bonus awards.

• GM’s stock jumped 50% last year, outpacing most of its peers.

• And internally, the company hit critical goals in profitability, execution, and shareholder returns.

Follow the money: Barra’s compensation included $2.1 million in base salary (unchanged since 2017), $19.5 million in stock awards (up 33% YoY), $6.7 million in incentive pay (up 27%), and $1.2 million in other benefits.

Worth noting: Barra’s 2023 compensation dipped after GM fell short of EV and AV milestones. So 2024 wasn’t necessarily a windfall for the CEO, but more like a rebound.

Yes, but with global losses piling up, an expensive EV transition, and tariff uncertainty, 2025’s targets could be much harder to hit.

Big picture: While Ford $F ( ▲ 2.45% ) CEO Jim Farley and ex-Stellantis $STLA ( ▲ 2.17% ) CEO Carlos Tavares took pay cuts last year after missing internal goals, GM rewarded execution even in a year complicated by competitive pressures and failed bets.

Outsmart the Car Market in 5 Minutes a Week

No-BS insights, built for car dealers. Free, fast, and trusted by 95,000+ auto pros.

Subscribe now — it’s free. 

Tailored Customer Experiences at Every Touchpoint? There’s AI for That. 

Impel’s AI Operating System maximizes engagement and conversion across marketing, chat, sales, and service. Now dealers can deliver one-to-one concierge experiences at scale across every step of the consumer journey, driving new levels of revenue, customer retention, and profitability.

And with our new AI Knowledge Bank, you can customize your AI for maximum flexibility. From incentives and service policies to tariff responses, train Impel once, and every conversation immediately reflects your latest updates. The result? 

• As much as a 50% increase in appointment set rates 

• Up to a 26% reduction in human intervention 

• 95 incremental Repair Orders on average per month

• An increased repurchase rate of nearly 25% 

See the difference the Impel AI Operating System makes today. Visit impel.ai/cdg.