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Recent Reports Show CEOs Making More Than Average Annual Family Income Per Day

17 May, 2023 F.J. Thomas

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Sarasota, FL (WorkersCompensation.com) – According to data from Statista Research, the aggregated CEO-to-worker compensation ratio was 398.8 in 2021. This suggests that on average, CEO’s received around 398.8 times the annual average salary of their production and nonsupervisory workers. Comparatively, in 2021 the average annual household income was $70,784, with Mississippi ranked as the state with the lowest average income at $46,637.

According to a recent ranking report from Equilar, the health insurance and pharmaceutical industries had some of the highest paid executives in 2022. According to the annual report that ranks the top paid 100 CEO’s, the average CEO pay was $22.3 million, which represents a 7.7 percent increase for some of the companies that also made the 2021 list. While the cash bonus values component of salaries dropped by 5.9 percent, the CEO-to-worker pay ratio increased to 288.1, up front 254.1 the year before. To summarize, at a salary of $22.3 million, the average salary of their workers should be around $77,430. 

The CEO of Peloton, Barry McCarthy, made top paid executive at $168 million earned in 2022. Timothy D. Cook, CEO of Apple, garnered second place with a salary of $99,420,097 annually. 

Albert Bourla, Ph.D., CEO for pharmaceutical company Pfizer ranked 20th with a total compensation package of $30,543,706, averaging out to $83,681 per day. This represents a 26 percent increase in change of pay. Taking the CEO-to-worker compensation ratio into account, the employee average salary should be a little over $106,054.

Another pharmaceutical company CEO, Richard Gonzalez with AbbVie, came in at 33, with a compensation package of $25,847,971, a 12 percent increase in change of pay. This averages out to $70,816 per day, with an average employee salary of $89,749.

Stryker CEO, Kevin Lobo, ranked 95th with a compensation package of $18,563,214, a 13 percent increase in pay. This averages out to $50,858 per day, with an employee average annual salary of $64,455.

According to a recent Becker’s report, Andrew Witty, CEO of United Healthcare and former CEO of pharmaceutical company GSK, earned $20.9 million in total compensation in 2022. This averages out to $57,260 per day, and is a 13 percent increase from the year before. According to the Becker’s report, the CEO-to-median-employee pay ratio for UnitedHealth Group in 2022 was 331.1. Based on that ratio, the annual employee salary should be around $63,141.

UnitedHealth Group CFO John Rex, was paid $15.8 million. COO Dirk McMahon was paid $15.8 million. 

Chairman of the Board and Chief Executive Officer of Hartford Services, Christopher Swift earns a total compensation of $14,560,700 annually, averaging out to $39,892.33 per day. Based on the Equilar ratios, the employee average salary should be around $50,557 annually. 

The total compensation for Alan Schnitzer, Chairman of the Board and Chief Executive Officer of Travelers Companies, is $16,778,800. This averages out to $45,969.32 per day, with an employee average salary of around $58,259 using the Equilar ratios. 

Recent Reports Show CEOs Making More Than The Average Annual Family Income Per Day

By F.J. Thomas 

Sarasota, FL (WorkersCompensation.com) – According to data from Statista Research, the aggregated CEO-to-worker compensation ratio was 398.8 in 2021. This suggests that on average, CEO’s received around 398.8 times the annual average salary of their production and nonsupervisory workers. Comparatively, in 2021 the average annual household income was $70,784, with Mississippi ranked as the state with the lowest average income at $46,637.

According to a recent ranking report from Equilar, the health insurance and pharmaceutical industries had some of the highest paid executives in 2022. According to the annual report that ranks the top paid 100 CEO’s, the average CEO pay was $22.3 million, which represents a 7.7 percent increase for some of the companies that also made the 2021 list. While the cash bonus values component of salaries dropped by 5.9 percent, the CEO-to-worker pay ratio increased to 288.1, up front 254.1 the year before. To summarize, at a salary of $22.3 million, the average salary of their workers should be around $77,430. 

The CEO of Peloton, Barry McCarthy, made top paid executive at $168 million earned in 2022. Timothy D. Cook, CEO of Apple, garnered second place with a salary of $99,420,097 annually. 

Albert Bourla, Ph.D., CEO for pharmaceutical company Pfizer ranked 20th with a total compensation package of $30,543,706, averaging out to $83,681 per day. This represents a 26 percent increase in change of pay. Taking the CEO-to-worker compensation ratio into account, the employee average salary should be a little over $106,054.

Another pharmaceutical company CEO, Richard Gonzalez with AbbVie, came in at 33, with a compensation package of $25,847,971, a 12 percent increase in change of pay. This averages out to $70,816 per day, with an average employee salary of $89,749.

Stryker CEO, Kevin Lobo, ranked 95th with a compensation package of $18,563,214, a 13 percent increase in pay. This averages out to $50,858 per day, with an employee average annual salary of $64,455.

According to a recent Becker’s report, Andrew Witty, CEO of United Healthcare and former CEO of pharmaceutical company GSK, earned $20.9 million in total compensation in 2022. This averages out to $57,260 per day, and is a 13 percent increase from the year before. According to the Becker’s report, the CEO-to-median-employee pay ratio for UnitedHealth Group in 2022 was 331.1. Based on that ratio, the annual employee salary should be around $63,141.

UnitedHealth Group CFO John Rex, was paid $15.8 million. COO Dirk McMahon was paid $15.8 million. 

Chairman of the Board and Chief Executive Officer of Hartford Services, Christopher Swift earns a total compensation of $14,560,700 annually, averaging out to $39,892.33 per day. Based on the Equilar ratios, the employee average salary should be around $50,557 annually. 

The total compensation for Alan Schnitzer, Chairman of the Board and Chief Executive Officer of Travelers Companies, is $16,778,800. This averages out to $45,969.32 per day, with an employee average salary of around $58,259 using the Equilar ratios. 


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    About The Author

    • F.J. Thomas

      F.J. Thomas has worked in healthcare business for more than fifteen years in Tennessee. Her experience as a contract appeals analyst has given her an intimate grasp of the inner workings of both the provider and insurance world. Knowing first hand that the industry is constantly changing, she strives to find resources and information you can use.

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