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Hoda Kotb will reportedly make $18 million less than Matt Lauer did

Hoda Kotb was named as Matt Lauer's replacement on Today on Tuesday, but she will make approximately $18 million less per year than he did, people familiar with the decision told Page Six. Lauer earned an eye-popping $25 million a year on the job, while Kotb will make $7 million a year, the same as her co-host Savannah Guthrie.

Lauer's salary notably "reflected the long time he was on the show," an insider told Page Six. Another massive NBC contract belongs to Megyn Kelly, who joined the network last year and reportedly makes as much as $20 million a year.

The insider added, "Hoda isn't complaining about the money. She has landed the big job she always dreamed of, and most definitely deserves." That being said, "the figures underline the huge wage disparity at NBC News."