In fiscal year 2011, three executives at Rochester, Minn.-based Mayo Clinic earned more than $1 million, with President and CEO John Noseworthy, MD, making the most at $2 million, according to Mayo's most recent Form 990, which was accessed through GuideStar.
Dr. Noseworthy's base salary in 2011 was $1.21 million, higher than his $923,109 base salary in 2010. However, his total compensation in 2011 was lower than 2010, when he earned almost $2.44 million, mostly due in part to deferred compensation.
The other two executives who topped seven figures in pay were Chief Administrative Officer Shirley Weis and Treasurer Harry Hoffman. Ms. Weis earned $1.09 million, while Mr. Hoffman made $1.49 million.
CFO Jeff Bolton made $766,177 in 2011, less than the $952,386 he recorded in 2010.
While three executives made more than $1 million in 2011, it pales in comparison to 2010, when more than 30 executives topped that figure. However, this was mostly due to the immediate taxation of Mayo's supplemental executive retirement plan, and payouts represented career-long earnings that had been accrued. Mayo's executive salaries are also somewhat below the norms for other non-profit health systems and far below the corporate-level standards in the for-profit hospital industry.
Dr. Noseworthy's base salary in 2011 was $1.21 million, higher than his $923,109 base salary in 2010. However, his total compensation in 2011 was lower than 2010, when he earned almost $2.44 million, mostly due in part to deferred compensation.
The other two executives who topped seven figures in pay were Chief Administrative Officer Shirley Weis and Treasurer Harry Hoffman. Ms. Weis earned $1.09 million, while Mr. Hoffman made $1.49 million.
CFO Jeff Bolton made $766,177 in 2011, less than the $952,386 he recorded in 2010.
While three executives made more than $1 million in 2011, it pales in comparison to 2010, when more than 30 executives topped that figure. However, this was mostly due to the immediate taxation of Mayo's supplemental executive retirement plan, and payouts represented career-long earnings that had been accrued. Mayo's executive salaries are also somewhat below the norms for other non-profit health systems and far below the corporate-level standards in the for-profit hospital industry.
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