KEY TAKEAWAY: Median pay for healthcare and pharmaceutical executives amounted to $14.5 million in 2015, higher than for leaders in any other sector , according to Equilar, a California firm that researches and analyzes executive compensation. Median compensation for all CEOs in the study, which looked at pay packages of 341 executives at S&P 500 companies across multiple sectors in 2015, was $10.8 million. The increase in healthcare executive pay from 2014 to 2015 was also greater than in other sectors. Healthcare CEO pay rose 7 percent last year over the amount in 2014, while the comparable median pay increase for all industries was 4.5 percent.
Empathy was talked about at Digital Pharma but how much empathy can you have when you make tens of millions of dollars and how in the hell can you take home so much money knowing that there are patients who can’t afford to pay for medications?
The biggest mistake that pharma is making right now is thinking that consumers don’t know about these outrageous salaries. They do thanks to the Internet and they are going to apply this knowledge when voting for politicians who support big pharma.
Serving as a pharma CEO is a chance to give something back to society and leave your mark, but too many think that developing new drugs with six figure price tags is a good way to feel good. It’s not, it’s self delusional and anther reasons why we are headed for a single payer system despite the $100 million lobbying dollars by pharma