Average CHRO pay drops 16%, top HR leaders made up to $14.5 million: Report

The average compensation for Chief Human Resources Officers (CHROs) at the largest publicly listed companies in the US fell 16% year on year in 2025, even as the highest-paid HR leaders earned packages of up to $14.5 million, according to a new study by Equilar.

The report found the average CHRO compensation package declined to $3.7 million, down from approximately $4.4 million in 2024. While overall pay fell, stock awards remained the largest component of executive compensation, reflecting the growing importance organisations place on HR leaders' contribution to business performance.

Stock awards continue to dominate executive pay

According to the Equilar report, equity-based compensation remained largely unchanged despite declines in overall pay. Key compensation findings include:

• Average CHRO compensation fell from about $4.4 million in 2024 to $3.7 million in 2025.
• Average stock awards remained steady at approximately $2 million.
• Average cash bonuses declined from $896,256 to $864,610.
• Median base salary fell from $694,167 to $674,688.

Equilar said the consistency in stock awards suggests companies continue to closely align CHRO compensation with long-term business outcomes and organisational performance.

Visa's Kelly Tullier tops the compensation rankings

The report identified the highest-paid HR executives among the largest US public companies by revenue.

The top five highest-compensated CHROs in 2025 were:

• Kelly Tullier, Visa: $14,547,754
• Tracy Skeans, Yum! Brands: $12,085,124
• Jacqueline Canney, ServiceNow: $11,883,772
• Michelle O'Hara, Humana: $8,942,638
• Robert Dzielak, Expedia Group: $8,316,538

Equilar noted that Tracy Skeans recorded one of the largest year-on-year jumps, moving from 32nd place in 2024, when her compensation totalled about $4.5 million, to second place in the latest rankings.

The previous year's ranking was led by Laura Fennell, whose compensation package totalled nearly $16 million before she stepped down from her role.

Gender pay gap remains despite strong female representation

The report also highlights a significant gender pay gap among the highest-paid HR executives.

Although 32 of the top 50 highest-paid CHROs are women, their average total compensation stood at $3.5 million, compared with $5 million for their 18 male counterparts.

In addition:

• Four of the top 10 highest-paid CHROs are men.
• Women continue to make up the majority of the top 50 highest-paid CHROs, yet average compensation remains substantially lower than for men.

Equilar said a significant pay gap persists even in a profession where women are well represented at senior levels.

Growing responsibilities reshape the CHRO role

The findings come as HR leaders take on broader responsibilities across artificial intelligence, geopolitical risk, workforce transformation and organisational strategy.

Writing for HR Executive, Tara Flickinger, Partner at ON Partners, said the expanding scope of CHRO roles has increased operational and strategic complexity, with responsibilities becoming more closely tied to business outcomes.

She noted that compensation has not always kept pace for female executives despite the broader remit.

Flickinger added that aligning executive compensation more closely with responsibility and business impact can improve leadership retention and provide greater stability at the top of organisations.

As businesses continue to rely on HR leaders to guide AI adoption, talent transformation and organisational resilience, executive compensation is increasingly being viewed as a reflection of strategic influence rather than a traditional HR function. 

The latest Equilar findings suggest companies are rewarding long-term business impact through equity-based incentives, while challenges around gender pay equity remain unresolved.