Oracle's Safra Catz is Highest-Paid Female CEO
Oracle Co-CEO Safra Catz

This is part of a series of stories that comprise TheStreet's Blue Chip Studio, which will illuminate issues related to corporate board performance, activism, dealmakers and personalities revealed by analysis of data generated by BoardEx, a business unit of TheStreet.

For the second consecutive year, Oracle Corp.'s (ORCL) co-chief executive Safra Catz is the highest paid female CEO, a new study reveals.

While it is still more common for men to lead some of the largest U.S. companies, female chief executives are making gains. A study by Equilar, a provider of board intelligence solutions, finds that the women who lead the largest U.S. firms "far outpace their male counterparts when it comes to total compensation." Using the Equilar 100, an annual list of CEO pay packages at the 100 largest U.S. companies by revenue, the firm discovered that women were awarded an average of $23.1 million in 2016, compared to $16 million for men. Yet, there are only nine women who make the list.

Female tech CEOs fill out the top three spots. Oracle's Catz, 55, leads the pack, making $40.9 million, despite a 23% drop in her total compensation value from the previous year. Catz was named co-CEO along with Mark Hurd in 2014, according to BoardEx, a business unit of TheStreet. During Catz and Hurd's tenure, Oracle shares have gained 6%.

Hewlett Packard Enterprise Co.'s (HPE) Margaret Whitman, 60, comes in second with $32.9 million, a 93% raise over the previous year. She has served as CEO since 2011 -- before Hewlett Packard Enterprise separated from HP Inc. (HPQ) in 2015. Meanwhile, International Business Machines Corp.'s (IBM) Virginia Rometty, 59, was just behind Whitman, earning $32.3 million. Rometty, who is the first woman to head the IBM, was named CEO in 2012. She is also currently serving as a member of President Trump's Strategic and Policy Forum.

If you liked this article you might like

7 Essential Rules for Investing in Tech Stocks

Tax Reform Is Coming and That Means Trump Stock Rally Is Ready to Kill It Again

'Trump Stock' Rally Is Back on Track

Crazy Weak U.S. Dollar Will Make These 10 Companies Huge Winners

Dow, S&P 500 Set New Records as Fed Moves to Unwind Balance Sheet