Compensation for top HR leaders saw a slight decrease in 2024, according to Equilar’s HR Executive Pay Trends report, featuring commentary from the HR Policy Association. HR executives at Equilar 500 companies—the 500 largest U.S. public companies by revenue—earned $2.3 million at the median in 2024, marking a decline of less than 1% from the previous year.

The decline in HR executive compensation was minimal and likely influenced by various market factors. However, the importance of HR executives, including chief human resources officers (CHROs), has never been greater. “Given the multifaceted challenges that businesses face today, having a strong CHRO is essential,” said Ani Huang, President and CEO of the HR Policy Association’s Center On Executive Compensation. “A capable HR leader ensures that the organization’s most valuable resource—its people—are aligned with and empowered to execute the company’s vision.”

The report also reveals that women occupy 68.7% of HR executive positions at Equilar 500 companies, up from 59.3% in 2020. This growth aligns with the historical trend of women dominating the HR function. Meanwhile, men have also experienced an increase in HR executive roles following a sharp decline in 2021, with the prevalence of male HR executives rising by 52.9% between 2022 and 2024.

In terms of compensation, median pay packages for male and female HR executives were nearly identical in 2024, though men earned slightly more, with a median of $2.7 million compared to $2.6 million for women. This gap is particularly notable given the reversal of earlier trends; in 2020 and 2021, female HR executives earned significantly more than their male counterparts, with pay gaps of 52.3% and 84.4% in their favor during those years. Over the study period, women saw a modest 2.2% increase in compensation, while men experienced a much larger increase of 61.2%.

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