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Contact:
Karolyn Raphael
Winger & Associates, Ltd.
312/494-0422
Karolyn@wingerandassociates.com
Total Compensation up 7.2% According to 2006 Survey of Manager and Executive Compensation in Hospitals and Health Systems Released by Sullivan, Cotter and Associates, Inc.
(CHICAGO, August 3, 2006) - Sullivan, Cotter and Associates, Inc. has published the 2006 Survey of Manager and Executive Compensation in Hospitals and Health Systems, now in its fourteenth edition. This year 205 health systems and 669 hospitals participated in this survey, a respected industry resource. Survey participants submitted data between January and May 2006. SullivanCotter’s survey provides not only cash compensation data for executive and management jobs in hospitals and health systems but also provides data on pay practices, annual incentive plans, supplemental benefits, perquisites, nonqualified retirement plans, and much more. Modern Healthcare magazine has released portions of the survey in its July 31, 2006 issue.
Annual incentive plans continue to play a significant role in total compensation with 76% of participating health systems offering an annual incentive plan, up from 72% three years ago. “Interestingly, when we compared the 2006 base salary and total cash compensation data to that of the same survey participants in 2005, we see that base salaries have increased on average 5.3% and total cash compensation levels increased on average 7.2%,” noted SullivanCotter Managing Principal Tom Pavlik, with 75% of the 2006 survey participants also participating in last year’s survey. “Perhaps these increases are explainable by increased hiring competition in the industry, increased organizational performance resulting in higher incentive award payouts, or similar factors. Next year’s survey should prove interesting in regard to this situation.”
The 2006 Survey of Manager and Executive Compensation in Hospitals and Health Systems will be available for purchase beginning August 25. The cost to healthcare organizations agreeing to participate in next year’s survey is $600, and for those not wishing to participate, the cost is $1,200.
The cost to non-healthcare organizations is $3,500. To order a copy of the survey, please visit the SullivanCotter website at www.sullivancotter.com or contact Mary Kowalczyk, survey coordinator, at 312/739-2000, toll-free at 888/739-7039, or email maryk@sullivancotter.com.
Since 1992, SullivanCotter’s innovative yet practical compensation solutions create tremendous value for the organizations it serves. Integrity. Independence. Insight. Look to SullivanCotter for comprehensive healthcare compensation consulting. Trust our experienced team for help with strategy development, compensation and benefit design, actuarial analyses, financing strategies and more. For more than a decade, SullivanCotter has been recognized as a leader in benchmarking, trends, and analysis. Its annual compensation and productivity surveys give healthcare organizations and companies in other industries up-to-date, actionable information with which to craft their own programs. Modern Healthcare relies on the surveys for its annual coverage on healthcare executive compensation and physician compensation. Sullivan, Cotter and Associates, Inc. has offices in Atlanta, Chicago, Dallas, Detroit, New York City, Parsippany, San Francisco and Westport. For more information, visit www.sullivancotter.com or call 888/739-7039 toll-free.
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