Since she became Macquarie chief executive, Shemara Wikramanayake has been paid $85 million. It is a huge sum, even for the head of a large investment bank. But compared to her male colleagues and predecessors, though, the company’s first female chief executive looks underpaid.

If Wikramanayake’s total remuneration was set at the same proportion of profits as former chief executive Allan Moss, she would have received $328 million since becoming CEO. Instead, she’s been paid 40 per cent less than the bank’s top earner since she took over.