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While headline profits dropped in 2024, General Motors' $GM ( ▼ 0.57%) 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.

Why it matters: Barra’s compensation isn't wholly contingent on the automaker's income. Rather, it tracks how the company performed against its own targets. And by those standards, 2024 was a strong year.

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While headline profits dropped in 2024, General Motors' $GM ( ▼ 0.57%) 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.

• 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.

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While headline profits dropped in 2024, General Motors' $GM ( ▼ 0.57%) 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.

Header 3

While headline profits dropped in 2024, General Motors' $GM ( ▼ 0.57%) 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.

Header 2

While headline profits dropped in 2024, General Motors' $GM ( ▼ 0.57%) 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.