Medtech workers may earn more than their peers on average, but medical device CEOs had a limited presence on New York Times’ 2012 list of the 100 highest-paid CEOs of public U.S. companies.
Beginning from the bottom up, Boston Scientific (NYSE:BSX) CEO Michael Mahoney ranked 92nd with $10.6 million in total compensation in 2012 and Abbott (NYSE:ABT) CEO Miles White ranked 32nd with $19 million. White’s 2012 package was 2% higher than the $18.6 million he recieved in total compensation in 2011; Mahoney’s 2011 compenstaion wasn’t provided.
Aesthetics devices maker Allergan’s (NYSE:AGN) CEO David Pyott outranked all 3 copmanies, making the list at number 9 with $19.4 million in total compensation. He also sported an impressive 62% increase over his 2011 package worth $11.9 million.
Healthcare-centric companies claimed a handful of spots on the list, with Bristol Myers Squibb (NYSE:BMY) CEO Lamberto Andreotti claiming the the 57th spot with a total of $16 million in compensation last year. Leaders of "basic materials" companies held 18 spots on the list, as did "consumer goods" companies, the Times reported.
A report released earlier this year by the Federal Bureau of Labor & Statistics found that medtech executives and top line managers earn an average of 21% more than their counterparts in business.
CEOs in the medical device industry in particular are demanding higher pay than their peers, pulling in $205,620 in annual salary, about 16% more than the $176,840 mean salary of CEOs across all industries, according to the Feds.