This is an excellent 2012 article by Steven Lewis. Here is a snippet.
It certainly didn’t hurt the cause for the defence that the Canadian Centre for Policy Alternatives simultaneously
There is no definitively right amount to pay hospital CEOs. My solution: give them interesting work to do, pay them well, be suspicious of those only in it for status and money, and don’t worry if the odd one gets away. You don’t need every potential star to want your job; you just need one, who wants it for all the right reasons. Healthcare is public service motivated by the desire to do good works. We want it to be great and well led, but we do not want its motivations to reduce to the narrower imperatives of the private sector. Governments and boards should keep the distinction in mind when deciding on how and how much to pay their CEOs, and contemplating the consequences of their approach.