Hospital executive salaries have endured many ups and downs before, during and since the economic collapse of 2008. A recent survey from Yaffe & Company, a healthcare compensation consulting firm, pulled data from 267 hospitals and health systems. Sixty-five percent of respondents were singlehospital systems, and 51 percent had net patient revenue between $35 million and $199 million.
Here’s what they found regarding salary adjustments for four primary hospital executive titles.
Hospital CEOs
Hospital CEOs have seen steady salary increases over the past eight years, perhaps most steady of all hospital executives. Most CEOs receive raises of at least 4 percent, and before the economic collapse of 2008, salary raises went as high as 7.36 percent.
Average hospital CEO salary adjustments by year
2004-2005: 6.57 percent
2005-2006: 6.47 percent
2006-2007: 7.36 percent
2007-2008: 5.61 percent
2008-2009: 6.70 percent
2009-2010: 4.10 percent
2010-2011: 3.90 percent
2011-2012: 4.09 percent
Average hospital CEO salary adjustments by net patient revenue and percentiles
Hospitals with net patient revenue less than $35 million
25th percentile: 0 percent
50th percentile: 2.2 percent
75th percentile: 6.4 percent
Hospitals with net patient revenue between $35 million and $99 million 2
5th percentile: 0 percent
50th percentile: 3.1 percent
75th percentile: 6.8 percent
Hospitals with net patient revenue between $100 million and $199 million
25th percentile: 0 percent
50th percentile: 2.2 percent
75th percentile: 3.6 percent
Hospitals with net patient revenue between $200 million and $500 million
25th percentile: 0 percent
50th percentile: 3.4 percent
75th percentile: 7.2 percent
Hospitals with net patient revenue greater than $500 million
25th percentile: 1.6 percent
50th percentile: 2.5 percent
75th percentile: 4.6 percent
Total
25th percentile: 0 percent
50th percentile: 2.7 percent
75th percentile: 5.8 percent
Hospital CFOs
Similar to hospital CEOs, hospital CFOs have received higher-than-average base salary raises, but they are lower than the raises issued before the 2008 economic collapse. Hospital CFOs can usually expect a raise between 3 and 5 percent on a year-to-year basis, and before 2008, raises topped 6 and 7 percent.
Average hospital CFO salary adjustments by year
2004-2005: 5.67 percent
2005-2006: 5.96 percent
2006-2007: 5.25 percent
2007-2008: 6.25 percent
2008-2009: 7.31 percent
2009-2010: 3.00 percent
2010-2011: 4.27 percent
2011-2012: 5.92 percent
Average hospital CFO salary adjustments by net patient revenue and percentiles Hospitals with net patient revenue less than $35 million
25th percentile: 0 percent
50th percentile: 1.9 percent
75th percentile: 7.3 percent
Hospitals with net patient revenue between $35 million and $99 million
25th percentile: 0 percent
50th percentile: 2.1 percent
75th percentile: 5 percent
Hospitals with net patient revenue between $100 million and $199 million
25th percentile: 2 percent
50th percentile: 3.7 percent
75th percentile: 5.6 percent
Hospitals with net patient revenue between $200 million and $500 million
25th percentile: 1.3 percent
50th percentile: 5 percent
75th percentile: 11.7 percent
Hospitals with net patient revenue greater than $500 million
25th percentile: 2.6 percent
50th percentile: 3.3 percent
75th percentile: 3.9 percent
Total
25th percentile: 0 percent
50th percentile: 3.5 percent
75th percentile: 7.1 percent
Hospital CMOs
Hospital CMOs received base salary raises as high as 10.17 percent in 2006, but their salary adjustments have been cut by more than twothird since then. However, the 10 percent salary hikes are the single largest adjustments of any hospital executive in the past eight years.
Average hospital CMO salary adjustments by year
2004-2005: 6.88 percent
2005-2006: 10.12 percent
2006-2007: 10.17 percent
2007-2008: 5.21 percent
2008-2009: 5.68 percent
2009-2010: 3.08 percent
2010-2011: 4.47 percent
2011-2012: 3.10 percent
Average hospital CMO salary adjustments by net patient revenue and percentiles
Hospitals with net patient revenue less than $35 million
25th percentile: 0.5 percent
50th percentile: 1 percent
75th percentile: 1.5 percent
Hospitals with net patient revenue between $35 million and $99 million
25th percentile: 0 percent
50th percentile: 1 percent
75th percentile: 3 percent
Hospitals with net patient revenue between $100 million and $199 million
25th percentile: 0.4 percent
50th percentile: 2 percent
75th percentile: 3 percent
Hospitals with net patient revenue between $200 million and $500 million
25th percentile: 0 percent
50th percentile: 3 percent
75th percentile: 9 percent
Hospitals with net patient revenue greater than $500 million
25th percentile: 0 percent
50th percentile: 2.5 percent
75th percentile: 3 percent
Total
25th percentile: 0 percent
50th percentile: 2 percent
75th percentile: 4 percent
Hospital CNOs
Over the past three years, hospital CNOs have had the lowest rates of salary growth compared with CEOs, CFOs and CMOs. CNOs, on average, have not seen salary raises above 4 percent since 2008, and CNO salary adjustments have not topped 7 percent in the past eight years.
Average hospital CNO salary adjustments by year
2004-2005: 5.42 percent
2005-2006: 6.94 percent
2006-2007: 6.11 percent
2007-2008: 6.27 percent
2008-2009: 6.69 percent
2009-2010: 2.75 percent
2010-2011: 2.81 percent
2011-2012: 3.94 percent
Average hospital CNO salary adjustments by net patient revenue and percentiles
Hospitals with net patient revenue less than $35 million
25th percentile: 0 percent
50th percentile: 0.1 percent
75th percentile: 3.6 percent
Hospitals with net patient revenue between $35 million and $99 million
25th percentile: 0 percent
50th percentile: 3 percent
75th percentile: 4 percent
Hospitals with net patient revenue between $100 million and $199 million
25th percentile: 1 percent
50th percentile: 2.8 percent
75th percentile: 4.5 percent
Hospitals with net patient revenue between $200 million and $500 million
25th percentile: 0.3 percent
50th percentile: 3 percent
75th percentile: 6.6 percent
Hospitals with net patient revenue greater than $500 million
25th percentile: 2.5 percent
50th percentile: 3.5 percent
75th percentile: 5 percent
Total
25th percentile: 0 percent
50th percentile: 3 percent
75th percentile: 5 percent
Here’s what they found regarding salary adjustments for four primary hospital executive titles.
Hospital CEOs
Hospital CEOs have seen steady salary increases over the past eight years, perhaps most steady of all hospital executives. Most CEOs receive raises of at least 4 percent, and before the economic collapse of 2008, salary raises went as high as 7.36 percent.
Average hospital CEO salary adjustments by year
2004-2005: 6.57 percent
2005-2006: 6.47 percent
2006-2007: 7.36 percent
2007-2008: 5.61 percent
2008-2009: 6.70 percent
2009-2010: 4.10 percent
2010-2011: 3.90 percent
2011-2012: 4.09 percent
Average hospital CEO salary adjustments by net patient revenue and percentiles
Hospitals with net patient revenue less than $35 million
25th percentile: 0 percent
50th percentile: 2.2 percent
75th percentile: 6.4 percent
Hospitals with net patient revenue between $35 million and $99 million 2
5th percentile: 0 percent
50th percentile: 3.1 percent
75th percentile: 6.8 percent
Hospitals with net patient revenue between $100 million and $199 million
25th percentile: 0 percent
50th percentile: 2.2 percent
75th percentile: 3.6 percent
Hospitals with net patient revenue between $200 million and $500 million
25th percentile: 0 percent
50th percentile: 3.4 percent
75th percentile: 7.2 percent
Hospitals with net patient revenue greater than $500 million
25th percentile: 1.6 percent
50th percentile: 2.5 percent
75th percentile: 4.6 percent
Total
25th percentile: 0 percent
50th percentile: 2.7 percent
75th percentile: 5.8 percent
Hospital CFOs
Similar to hospital CEOs, hospital CFOs have received higher-than-average base salary raises, but they are lower than the raises issued before the 2008 economic collapse. Hospital CFOs can usually expect a raise between 3 and 5 percent on a year-to-year basis, and before 2008, raises topped 6 and 7 percent.
Average hospital CFO salary adjustments by year
2004-2005: 5.67 percent
2005-2006: 5.96 percent
2006-2007: 5.25 percent
2007-2008: 6.25 percent
2008-2009: 7.31 percent
2009-2010: 3.00 percent
2010-2011: 4.27 percent
2011-2012: 5.92 percent
Average hospital CFO salary adjustments by net patient revenue and percentiles Hospitals with net patient revenue less than $35 million
25th percentile: 0 percent
50th percentile: 1.9 percent
75th percentile: 7.3 percent
Hospitals with net patient revenue between $35 million and $99 million
25th percentile: 0 percent
50th percentile: 2.1 percent
75th percentile: 5 percent
Hospitals with net patient revenue between $100 million and $199 million
25th percentile: 2 percent
50th percentile: 3.7 percent
75th percentile: 5.6 percent
Hospitals with net patient revenue between $200 million and $500 million
25th percentile: 1.3 percent
50th percentile: 5 percent
75th percentile: 11.7 percent
Hospitals with net patient revenue greater than $500 million
25th percentile: 2.6 percent
50th percentile: 3.3 percent
75th percentile: 3.9 percent
Total
25th percentile: 0 percent
50th percentile: 3.5 percent
75th percentile: 7.1 percent
Hospital CMOs
Hospital CMOs received base salary raises as high as 10.17 percent in 2006, but their salary adjustments have been cut by more than twothird since then. However, the 10 percent salary hikes are the single largest adjustments of any hospital executive in the past eight years.
Average hospital CMO salary adjustments by year
2004-2005: 6.88 percent
2005-2006: 10.12 percent
2006-2007: 10.17 percent
2007-2008: 5.21 percent
2008-2009: 5.68 percent
2009-2010: 3.08 percent
2010-2011: 4.47 percent
2011-2012: 3.10 percent
Average hospital CMO salary adjustments by net patient revenue and percentiles
Hospitals with net patient revenue less than $35 million
25th percentile: 0.5 percent
50th percentile: 1 percent
75th percentile: 1.5 percent
Hospitals with net patient revenue between $35 million and $99 million
25th percentile: 0 percent
50th percentile: 1 percent
75th percentile: 3 percent
Hospitals with net patient revenue between $100 million and $199 million
25th percentile: 0.4 percent
50th percentile: 2 percent
75th percentile: 3 percent
Hospitals with net patient revenue between $200 million and $500 million
25th percentile: 0 percent
50th percentile: 3 percent
75th percentile: 9 percent
Hospitals with net patient revenue greater than $500 million
25th percentile: 0 percent
50th percentile: 2.5 percent
75th percentile: 3 percent
Total
25th percentile: 0 percent
50th percentile: 2 percent
75th percentile: 4 percent
Hospital CNOs
Over the past three years, hospital CNOs have had the lowest rates of salary growth compared with CEOs, CFOs and CMOs. CNOs, on average, have not seen salary raises above 4 percent since 2008, and CNO salary adjustments have not topped 7 percent in the past eight years.
Average hospital CNO salary adjustments by year
2004-2005: 5.42 percent
2005-2006: 6.94 percent
2006-2007: 6.11 percent
2007-2008: 6.27 percent
2008-2009: 6.69 percent
2009-2010: 2.75 percent
2010-2011: 2.81 percent
2011-2012: 3.94 percent
Average hospital CNO salary adjustments by net patient revenue and percentiles
Hospitals with net patient revenue less than $35 million
25th percentile: 0 percent
50th percentile: 0.1 percent
75th percentile: 3.6 percent
Hospitals with net patient revenue between $35 million and $99 million
25th percentile: 0 percent
50th percentile: 3 percent
75th percentile: 4 percent
Hospitals with net patient revenue between $100 million and $199 million
25th percentile: 1 percent
50th percentile: 2.8 percent
75th percentile: 4.5 percent
Hospitals with net patient revenue between $200 million and $500 million
25th percentile: 0.3 percent
50th percentile: 3 percent
75th percentile: 6.6 percent
Hospitals with net patient revenue greater than $500 million
25th percentile: 2.5 percent
50th percentile: 3.5 percent
75th percentile: 5 percent
Total
25th percentile: 0 percent
50th percentile: 3 percent
75th percentile: 5 percent