Here’s something that doesn’t get talked about enough in Philadelphia: when companies set executive pay, they’re not just looking at national data or industry averages. They’re looking at Comcast. They’re looking at Independence Health Group. These two giants have quietly become the yardstick everyone else measures against.
And whether you’re hiring or being hired, that changes everything.
“The presence of anchor employers like Comcast and Independence fundamentally changes the compensation conversation for every company recruiting executive talent in the Philadelphia market,” says Jim Hickey, President and Managing Partner at Perpetual Talent Solutions, a Philadelphia executive search firm. “These organizations don’t just set their own pay scales—they establish the baseline that competitors must acknowledge.”
The Comcast Effect
Because Comcast is publicly traded, we know exactly what they pay their executives. It’s all in the SEC filings. And honestly? The numbers are eye-opening.
In 2024, CEO Brian Roberts received $33.9 million in total compensation. That breaks down to a $2.5 million base salary, $17.9 million in stock awards, and $7.5 million in performance bonuses. President Michael Cavanagh earned $28.3 million. CFO Jason Armstrong? He saw a 30% bump to $15.1 million.
These aren’t just numbers on a page. They create what compensation folks call a “gravity effect” on the whole market. When a company posts $123.7 billion in revenue and $16.2 billion in profit (up 5.2% from the year before), that kind of performance justifies premium pay. And it sets expectations for anyone else trying to recruit similar talent.
Here’s another number worth knowing: Comcast’s CEO-to-worker pay ratio sits at 380-to-1, with the median employee earning $89,237 annually. That’s substantial, but it actually reflects broader trends—the average S&P 500 company now maintains a ratio of 285-to-1 according to AFL-CIO research.
Independence Health’s Different Kind of Influence
Independence Health Group—the parent company of Independence Blue Cross—operates in a completely different way. But their pull on the market? Just as strong, especially in healthcare and insurance.
Under outgoing CEO Gregory E. Deavens (he’s retiring at the end of 2025), the company grew consolidated revenue from $21.8 billion to over $31 billion. That’s a 42% increase in four years. Not bad.
Because Independence is a nonprofit, their compensation looks different than Comcast’s. CEO total compensation runs around $5 million including base, bonuses, and benefits. That’s competitive within healthcare while staying true to the mission-driven approach you’d expect from an organization like this.
“Healthcare executives evaluating opportunities in Philadelphia naturally look at Independence as the market leader,” Hickey explains. “Their compensation approach—balancing competitive pay with organizational mission—creates a template that regional health systems and insurers must consider when structuring their own packages.”
Why This Matters Beyond Their Industries
Here’s what gets interesting: this benchmark effect doesn’t stay contained. When an energy company, a financial services firm, or a tech startup tries to recruit C-suite talent to Philadelphia, they’re dealing with candidates whose expectations have already been shaped by what Comcast and Independence pay.
The numbers bear this out. According to the Bureau of Labor Statistics, management positions in the Philadelphia metro area average $71.47 an hour—well above the national average. Salary.com data puts average CEO compensation in the area around $849,000, though that includes organizations of all sizes.
And nationally? CEO pay packages jumped nearly 10% in 2024, with median compensation hitting $17.1 million among S&P 500 companies. Meanwhile, median employee pay rose just 1.7%. That gap keeps widening.
What This Means for Energy
The energy sector has its own dynamics playing out here. Research from ON Partners shows a 111% increase in executive hiring within energy and cleantech over the past three years, plus a 9% year-over-year bump in executive compensation.
But here’s where smart candidates are finding an edge:
“Smart candidates are reframing the conversation entirely,” Hickey observes. “Instead of asking for a higher base salary to match a competing offer in a high-cost city, they’re demonstrating how a Philadelphia-based role at a competitive but not top-of-market salary actually delivers superior financial outcomes when you factor in cost of living.”
Think about it. Philadelphia gives you proximity to Washington for regulatory work, New York for financial markets, and major energy infrastructure throughout the Mid-Atlantic. All while costing significantly less than those other cities. That’s a real advantage if you frame it right.
How to Actually Use This Information
If you’re an organization trying to attract executive talent, you need to understand where you fit relative to these benchmarks. You probably can’t match Comcast’s total comp packages. Most companies can’t. But that doesn’t mean you can’t compete.
“The executives who negotiate most effectively understand that compensation is a multi-dimensional conversation,” Hickey notes. “They come prepared with data on cost of living differentials, tax implications, and lifestyle factors. This sophistication signals to employers that they’re dealing with a strategic thinker—which only strengthens the candidate’s position.”
Smaller organizations can win by emphasizing what they do offer: equity participation, growth potential, work-life balance, and those cost-of-living advantages that Philadelphia has over peer markets. You’re not competing on the same playing field as Comcast. You’re competing on a different one—and that’s okay.
The presence of these anchor employers isn’t going away. If anything, their influence on how Philadelphia companies think about executive pay will only deepen. But knowing the landscape—really understanding how these benchmarks work—puts you in a much stronger position. Whether you’re hiring or being hired.
