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Contact:
Karolyn Raphael
Winger Marketing
312/494-0422
Karolyn@wingermarketing.com
INCREASES IN SALARIES MODERATE
According to 2009 Survey of Manager and Executive Compensation in Hospitals and Health Systems By Sullivan, Cotter and Associates, Inc.
(Chicago) October 10, 2009 - Sullivan, Cotter and Associates, Inc., a compensation and human resource management consulting firm, released its 2009 Survey of Manager and Executive Compensation in Hospitals and Health Systems, now in its seventeenth edition. This year, 259 health systems and 871 hospitals participated in the survey, a respected industry resource. Participants submitted data for over 22,000 executives and managers between February and June 2009. SullivanCotter's national survey provides not only cash compensation data for executive and management jobs in hospitals and health systems, but also data on pay practices, annual incentive plans, supplemental benefits, perquisites, nonqualified retirement plans, and much more. Modern Healthcare, the nation's largest healthcare weekly, relies on SullivanCotter's data for its annual coverage on healthcare executive compensation and released portions of the survey in its August 3, 2009 issue.
When comparing the data from 190 health systems and 560 hospitals which participated in both 2008 and 2009, base salaries have increased on average 3.5% and 3.3%, respectively. These increases in salaries are lower than the average projected 2009 salary increase budgets, which were 3.9% for health systems and 3.7% for hospitals. "The projected 2009 salary increase budget data were collected in early 2008 prior to the economic downturn and the lower overall actual increase in salaries and total cash compensation levels reflects the moderation in salary increases that began to occur in the latter part of 2008," noted SullivanCotter Managing Principal Tom Pavlik. "We continue to see this moderation in the reported executive and manager projected salary increase budgets for next year; the data indicate budgets of 3.1% for health systems and 2.8% for hospitals."
The 2009 Survey of Manager and Executive Compensation in Hospitals and Health Systems is now available for purchase. The cost to healthcare organizations agreeing to participate in next year's survey is $750; for those not wishing to participate, the cost is $1,625. The survey is also available to non-healthcare organizations. To order a copy, please visit the SullivanCotter website at www.sullivancotter.com or contact Mary Kowalczyk, survey manager, at 312/739-2000, toll-free at 888/739-7039, or email maryk@sullivancotter.com.
Sullivan, Cotter and Associates, Inc. specializes in the development and implementation of strategic total compensation and reward programs for the healthcare industry. Since 1992, SullivanCotter has worked closely with healthcare organization executives, boards, and compensation committees to devise innovative compensation solutions that attract and retain leadership talent while satisfying not-for-profit missions and regulatory requirements. A leader in independent consulting, benchmarking, trends, and analyses, SullivanCotter has developed the most widely recognized physician and executive compensation surveys in the United States. SullivanCotter has offices in Atlanta, Boston, Chicago, Dallas, Detroit, New York City, Parsippany, San Francisco, Washington DC, and Westport. For more information, visit www.sullivancotter.com or call 888-739-7039.
Note to media - To interview Mr. Pavlik, please call Karolyn Raphael at 312/494-0422.
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