Hoda Kotb has landed the job of a lifetime, but the salary doesn't exactly add up to her famous predecessor's. 

After officially being announced as the new co-anchor of Today earlier this week, the veteran journalist was applauded by viewers and colleagues alike for assuming the highly revered post. However, just as fans waited to see who would replace Matt Lauer after his November firing, many also wondered if their salaries would ultimately match. The answer is no. 

While Lauer was reportedly earning $20 million from his most recent two-year contract, Kotb confirmed to People she isn't making "Matt Lauer money. Not even close."

"The answer is no—that's not happening," she told People of potentially similar figures. Guthrie added, "For either of us." 

Hoda Kotb, Matt Lauer, Today

Nathan Congleton/NBC

Though the numbers on her new paychecks have not been revealed, it's not about the money for Kotb. 

"I know it sounds ridiculous that I'm going to say this, but I really have done jobs I liked for the job I liked because I never wanted to be happy every other Friday on pay day. Like, I didn't want that to be the happy day," she explained to the magazine.

Having spent two decades at the network, the longtime NBC employee has had her hands full in recent years as she's filled in for absent anchors in the earlier hours of Today, continued to co-host the fourth hour with Kathie Lee Gifford and even headed to Brazil for the show's 2016 Summer Olympics broadcasts. 

When it came time to announce Lauer's firing, it was Kotb who helped Guthrie through the unexpected breaking news and the weekdays since. "Over the past several weeks, Hoda has seamlessly stepped into the co-anchor role alongside Savannah, and the two have quickly hit the ground running," NBC News Chairman Andy Lack said in an email Tuesday to staff. "They have an undeniable connection with each other and most importantly, with viewers, a hallmark of Today."

As Guthrie added while announcing the news of her new Today partner,  "This has to be the most popular decision NBC has ever made, and I am so thrilled!"

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