- Indra Nooyi, Pepsi’s CEO from 2006 to 2018, told the NYT she finds she is asking for a pay raise “awful.”
- “I can not imagine working for anyone and saying that my salary is not enough,” Nooyi said.
- Research has found that women ask for increases just as much as men, but men are more “successful” with their requests.
The former CEO of PepsiCo never asked for a pay rise while at the helm of the company.
Indra Nooyi, Pepsi’s CEO between 2006 and 2018, said in a recent interview that she did not ask the company’s board for an increase while CEO.
Nooyi said she even refused an increase the board offered her because she felt uncomfortable taking one during the financial crisis.
“I’ve never asked for an increase,” Nooyi told The New York Times. “I think it’s weird. I can ‘t imagine working for anyone and saying my salary is not enough.”
When asked if Nooyi’s refusal to ask for an increase was gendered, Nooyi said “it’s just me.” The director explained that because she did not grow up with a lot of money, she and her husband did not upgrade their house while serving as CEO.
The Times noted that Nooyi received more than $ 31 million in compensation during his last full year at Pepsi.
Nooyi said she bought the land and properties near her house so no one would build a “giant mansion” and allowed neighbors to walk around the empty space.
Nooyi grew up in Chennai, India, and attended two of the country’s most prestigious universities. She consistently ranked as one of Fortune’s most influential women in business during her time at PepsiCo.
On average, women in business ask for increases and promotions more than men, according to research from McKinsey and Lean In. But when women negotiate, their bosses see them as “scary”, “too aggressive” or “bossy”.
In 2018, the Harvard Business Review published a report that found that women ask for increases as much as men, but men are more “successful” with their requests with a success rate of 15% for women and 20% for men .
PepsiCo was not immediately available for comment.