Health insurance human resources managers get biggest base salary increase: survey

What do you want to know

  • Base salaries for HR executives at major health insurers increased by an average of 8.3% between 2020 and 2021.
  • CEO total direct compensation increased by 23.6%.
  • The increase in total direct compensation for CEOs increased by 12.4% between 2019 and 2020.

U.S. health insurers continued to raise base salaries for key human resources leaders in 2021, just as they did in 2020, according to new survey results from BDO USA.

A BDO compensation consulting team found that the base salary of health insurer HR executives who held their positions in both 2020 and 2021 increased by an average of 8.3% in 2021.

The rate of increase was 7.6% in 2020.

HR executives did better, in terms of base salary increases, than health insurer CEOs, top finance executives and top legal executives in 2020 and 2021.

But health insurers have increased the total compensation of CEOs more than that of other senior executives.

Total direct compensation – the sum of base salary, annual incentive compensation and long-term incentive compensation – increased 23.6% for health insurers in 2021, compared to 12.4% in 2020.

CEO base salaries increased by 4.7% in 2020 and 3.9% in 2021. Their annual incentive compensation increased by 4.9% in 2020 and 8.6% in 2021.

William M. Mayer