Updated April 2026 · SEC DEF 14A data
Danaher vs Thermo Fisher Scientific, CEO Pay Comparison
Rainer Blair, Danaher's CEO, earns $0 more in reported total compensation than Marc Casper at Thermo Fisher Scientific, based on the most recent SEC DEF 14A proxy filings. Danaher earns a Pay-for-Performance Grade of B; Thermo Fisher Scientific earns a B.
Rainer Blair at Danaher ($12.0M) and Marc Casper at Thermo Fisher Scientific ($12.0M) are close on total compensation. With pay close, the more interesting comparison is on performance: TSR ran 9.3% versus 14.5% over the three-year window.
CEO compensation comparisons require peer-group context. Compensation committees explicitly select peer groups for setting CEO pay; two companies may use different peer groups even when they appear in similar industries. The full per-company pages surface the disclosed peer-group context.
Side-by-Side Comparison
| Metric | DanaherDHR | Thermo Fisher ScientificTMO |
|---|---|---|
| CEO | Rainer Blair | Marc Casper |
| Industry | Life Sciences | Life Sciences |
| Total Compensation | $12.0M | $12.0M |
| Base Salary | $1.2M | $1.2M |
| Stock Awards | $6.0M | $6.0M |
| Option Awards | $1.4M | $1.4M |
| Non-Equity Incentive | $1.8M | $1.8M |
| Pay-for-Performance Grade | B (71/100) | B (74/100) |
| CEO-Worker Pay Ratio | 126:1 | 126:1 |
| Median Worker Pay | $95K | $95K |
| Say-on-Pay Approval | 90.8% | 90.2% |
| 3yr Total Shareholder Return | +9.3% | +14.5% |
| Revenue | $24.0B | $42.9B |
| Market Cap | $170.0B | $200.0B |
| Employees | 63,000 | 122,000 |
Reading the Comparison
Rainer Blair (Danaher) and Marc Casper (Thermo Fisher Scientific) earn nearly identical reported total compensation — $12.0M versus $12.0M — placing the two CEOs within $0 of each other on their most recent DEF 14A filings.
On Pay-for-Performance Grade, the two companies are roughly tied: Danaher scores 71/100 (B) and Thermo Fisher Scientific scores 74/100 (B). Neither is clearly better aligned, the comparison turns on individual factors rather than the composite score.
CEO-to-worker pay ratios are similar: 126:1 at Danaher versus 126:1 at Thermo Fisher Scientific. Both companies have median worker pay structures that produce comparable Item 402(u) ratios. Shareholders treated the two pay packages similarly in the most recent annual meetings: 90.8% support at Danaher, 90.2% at Thermo Fisher Scientific. Both fall within the typical S&P 500 range.
How These Numbers Are Sourced
Every metric in the comparison table comes from a primary public source. Total compensation, salary, stock awards, option awards, and non-equity incentive figures come from the Summary Compensation Table of each company's most recent DEF 14A — the table the SEC requires every U.S. public company to file annually under Regulation S-K Item 402. CEO-to-worker pay ratio comes from the Item 402(u) disclosure required since 2018. Say-on-pay vote share comes from the 8-K filed within four business days of each annual meeting. 3-year total shareholder return is computed from split-adjusted, dividend-reinvested price data over the most recent 36 months.
The Pay-for-Performance Grade is the four-factor composite documented at methodology: relative TSR (35%), revenue versus compensation growth (25%), say-on-pay vote (25%), and pay ratio versus peers (15%). Authoritative governance frameworks come from Institutional Shareholder Services (ISS) and Glass Lewis. Underlying SEC filings for both Danaher and Thermo Fisher Scientific are available on the EDGAR system.
Frequently Asked Questions
How much do the CEOs of Danaher and Thermo Fisher Scientific earn?
Rainer Blair, CEO of Danaher, earned $12.0M in reported total compensation in the most recently disclosed fiscal year. Marc Casper at Thermo Fisher Scientific earned $12.0M. Both figures come from the Summary Compensation Table inside each company's most recent DEF 14A proxy statement.
Which company has better Pay-for-Performance alignment?
On Pay-for-Performance Grade, the two companies are roughly tied: Danaher scores 71/100 (B) and Thermo Fisher Scientific scores 74/100 (B). Neither is clearly better aligned, the comparison turns on individual factors rather than the composite score. The grade is computed from a four-factor composite: 3-year relative TSR (35%), revenue versus compensation growth (25%), say-on-pay vote (25%), and CEO-to-worker pay ratio versus peers (15%).
How do CEO-to-worker pay ratios compare?
Danaher reports a CEO-to-median-worker pay ratio of 126:1 on its most recent Item 402(u) disclosure; Thermo Fisher Scientific reports 126:1. CEO-to-worker pay ratios are similar: 126:1 at Danaher versus 126:1 at Thermo Fisher Scientific. Both companies have median worker pay structures that produce comparable Item 402(u) ratios.
Did shareholders approve each pay package?
Shareholders treated the two pay packages similarly in the most recent annual meetings: 90.8% support at Danaher, 90.2% at Thermo Fisher Scientific. Both fall within the typical S&P 500 range. Say-on-pay is an advisory vote required by Section 951 of the Dodd-Frank Act and conducted at each annual shareholder meeting.
Where does this comparison data come from?
Every figure on this page is sourced from public SEC filings: the DEF 14A proxy statement for compensation under Regulation S-K Item 402, the same proxy's Item 402(u) disclosure for pay ratio, the 8-K filed within four business days of each annual meeting for say-on-pay vote share, and the 10-K for revenue, market cap, and employee count. All filings are available on the SEC EDGAR system at https://www.sec.gov/edgar.shtml.
Danaher CEO Pay Details
Full compensation breakdown, history, and peer comparison
Thermo Fisher Scientific CEO Pay Details
Full compensation breakdown, history, and peer comparison
Source: U.S. Securities and Exchange Commission, DEF 14A and 8-K filings via EDGAR. Public domain.
Last updated 2026-04-06 · comparing Danaher (DHR) and Thermo Fisher Scientific (TMO).