Compensation for executives at Jackson, Mich.-based Allegiance Health has decreased or remained the same for three consecutive years, according to a Jackson Citizen Patriot report.
The eight top executives at Allegiance received a combined 0.39 percent increase in pay in 2009 compared to 2008. When including other forms of compensation such as deferred compensation for retirement, however, the executives had an average 9 percent decrease in compensation.
In 2009, Allegiance CEO Georgia Fojtasek had her lowest total pay in five years at $713,217, which was 11.3 percent less than the previous year. This total pay includes a salary of $574,438, a drop of 1.2 percent from 2008, and $138,779 in "other compensation," a drop of 41.7 percent from 2008.
Allegiance offers its executives bonuses and deferred compensation for strong performance. In the last decade, these bonuses contributed to large increases in executive compensation.
For instance, Ms. Fojtasek saw a jump in compensation from $409,365 in 2002 to $896,917 in 2007, an increase of over 100 percent. In contrast, from 2007-2010, her total pay fell 20 percent.
The unchanged or decreasing executive compensation is a product of the poor economy, according to Larry Schultz, chairman of the system's board of directors.
Read the Jackson Citizen Patriot report on Allegiance Health.
Related Articles on Healthcare Compensation:
On-Call Coverage Payments Increased 4% in 2010
Florida's Halifax Health CEO Jeff Feasel Gets Raise, But Still Underpaid Comparatively
Healthcare CFO Compensation Varies by Company Size
The eight top executives at Allegiance received a combined 0.39 percent increase in pay in 2009 compared to 2008. When including other forms of compensation such as deferred compensation for retirement, however, the executives had an average 9 percent decrease in compensation.
In 2009, Allegiance CEO Georgia Fojtasek had her lowest total pay in five years at $713,217, which was 11.3 percent less than the previous year. This total pay includes a salary of $574,438, a drop of 1.2 percent from 2008, and $138,779 in "other compensation," a drop of 41.7 percent from 2008.
Allegiance offers its executives bonuses and deferred compensation for strong performance. In the last decade, these bonuses contributed to large increases in executive compensation.
For instance, Ms. Fojtasek saw a jump in compensation from $409,365 in 2002 to $896,917 in 2007, an increase of over 100 percent. In contrast, from 2007-2010, her total pay fell 20 percent.
The unchanged or decreasing executive compensation is a product of the poor economy, according to Larry Schultz, chairman of the system's board of directors.
Read the Jackson Citizen Patriot report on Allegiance Health.
Related Articles on Healthcare Compensation:
On-Call Coverage Payments Increased 4% in 2010
Florida's Halifax Health CEO Jeff Feasel Gets Raise, But Still Underpaid Comparatively
Healthcare CFO Compensation Varies by Company Size