The health care sector is comprised of multiple sub-industries and diverse professions that work in tandem to provide for and service health needs and concerns. As the health care sector develops and tackles emerging and challenging issues – such as talent shortages, shift differential analysis, and regulatory compliance complexities – it is important for HR professionals to accurately benchmark salaries, particularly at the top executive level, based on current market data and industry trends.
Despite growing challenges, ERI’s 2025 Salary Increase Survey projects the budget for executive compensation in health care to increase by 3.9 % this year, indicating that salaries for CEOs in health care should remain steady. CEO pay in health care is a complex topic, and the best way to approach it is by first understanding the myriad factors that contribute to executive compensation in this unique industry.
CEO Compensation in Health Care
The increase in CEO compensation reflects the complexity of managing and navigating care in an increasingly unpredictable climate, particularly given the impacts of the COVID-19 pandemic, high inflation, government policies, etc. This makes the demand for talented executive leaders critical, as their duties span not only quality and managed care, but also legal services and compliance.
In general, total compensation packages are dependent on a range of factors, such as the specific sub-industry, geographic location, organization size, and competitiveness. Moreover, salaries are significantly influenced by individual factors, including a professional’s level of education, specialization, experience, and relevant skills and certifications. However, at the executive level, geographic location may not necessarily be a crucial factor in benchmarking executive salaries because these roles are often recruited at the national level from candidates with experience in the industry. In the end, multiple elements determine an executive’s overall compensation package.
Top 20 Highest-Paid CEOs in Health Care
Below is a list of the top 20 CEOs in health care based on the most recent complete form year (2024). For this list, base salary serves as the rank-order metric as it is predetermined and the most fixed among the various forms of executive compensation.
| First Name | Last Name | Title | Company | Salary | Total Compensation |
|---|---|---|---|---|---|
| William | Sibold | Director, President and Chief Executive Officer | Madrigal Pharmaceuticals Inc | $275,400.00 | $32,268,400.00 |
| Ari | Bousbib | Chairman of the Board and Chief Executive Officer | IQVIA Holdings Inc | $1,800,000.00 | $29,151,752.00 |
| Joseph | Hogan | President, Chief Executive Officer and Director | Align Technology Inc | $1,354,769.00 | $28,952,411.00 |
| Joaquin | Duato | Chairman of the Board and Chief Executive Officer | Johnson & Johnson | $1,584,615.00 | $28,397,240.00 |
| David | Ricks | Chairman of the Board, President and Chief Executive Officer | Eli Lilly and Co | $1,621,154.00 | $26,565,732.00 |
| Jason | Hollar | Chief Executive Officer and Director | Cardinal Health Inc | $1,434,153.00 | $25,650,709.00 |
| Rami | Elghandour | President, Chief Executive Officer and Chairman of the Board | Arcellx Inc | $600,960.00 | $24,964,306.00 |
| Albert | Bourla | Chairman of the Board and Chief Executive Officer | Pfizer Inc | $1,800,000.00 | $24,648,727.00 |
| Samuel | Hazen | Director and Chief Executive Officer | HCA Healthcare Inc | $1,539,947.00 | $23,799,137.00 |
| Andrew | Witty | Director and Chief Executive Officer | UnitedHealth Group Inc | $1,500,000.00 | $23,534,936.00 |
| Robert | Ford | Chairman of the Board and Chief Executive Officer | Abbott Laboratories | $1,500,000.00 | $23,268,171.00 |
| David | Cordani | Chairman of the Board, President and Chief Executive Officer | The Cigna Group | $1,573,077.00 | $23,251,096.00 |
| Robert | Bradway | Chairman of the Board, President and Chief Executive Officer | Amgen Inc | $1,786,977.00 | $22,643,650.00 |
| Daniel | O'Day | Chairman of the Board and Chief Executive Officer | Gilead Sciences Inc | $1,740,962.00 | $22,607,690.00 |
| Gail | Boudreaux | President, Chief Executive Officer and Director | Anthem Inc | $1,600,000.00 | $21,889,039.00 |
| Karen | Lynch | Director, President and Chief Executive Officer | CVS Health Corp | $1,500,000.00 | $21,615,034.00 |
| Michael | Mahoney | Chairman of the Board, President and Chief Executive Officer | Boston Scientific Corp | $1,400,000.00 | $21,420,801.00 |
| Rainer | Blair | Director, President and Chief Executive Officer | Danaher Corp | $1,300,000.00 | $20,903,282.00 |
| Kevin | Lobo | Chairman of the Board, Chief Executive Officer and President | Stryker Corp | $1,391,667.00 | $20,767,847.00 |
| Reshma | Kewalramani | Director, President and Chief Executive Officer | Vertex Pharmaceuticals Inc | $1,500,000.00 | $20,594,441.00 |
Be mindful that compensation figures may change over time, reflecting market dynamics, company performance, and industry trends. Stay informed of the latest compensation survey data to ensure your salary plan remains up to date and competitive within your industry.
For a more detailed breakdown of executive compensation in health care or other industries, turn to ERI’s Executive Compensation Assessor, which provides a complete analysis of compensation factors at the executive level, including salaries, bonuses, long-term incentives, non-equity incentives, stock awards, option awards, pension, other compensation, and more. Those interested specifically in nonprofit executive compensation should consider ERI’s Nonprofit Comparables Assessor, which allows you to generate benchmark reports based on salary data from comparable peers in tax-exempt and/or for-profit organizations. ERI’s Assessor Platform is designed to help you customize your executive compensation analysis to confidently grasp how executive salaries compare in your specific industry and make the most accurate data-driven decisions.
Enjoyed this article? Learn more about top 10 executive compensation in various industries at ERI, including the top 10 highest-paid CEOs at nonprofits 2024 and the top top 10 highest-paid CEOs in the construction industry.
