CFO compensation reaches record levels.
HFMA's 2001 CFO compensation survey finds that CFOs of hospitals and health systems are receiving higher compensation today than ever before. The current average compensation of $127,00--15.5 percent higher than was reported in a similar survey conducted in 1999--is the highest ever recorded by HFMA. Moreover, comparison of the 2001 findings with results of previous surveys shows that the earnings gains for CFOs over the past two years are stronger than they have been at many times in recent history. Factors that were found to influence CFO compensation in 2001 are location, years of service, number of employees reporting to the CFO, supervisory responsibility at the system versus hospital level, experience, and gender. Significant findings of the survey were that the average earnings of CFOs in urban areas are nearly twice those of CFOs in rural areas and that the average difference between earnings of male and female CFOs narrowed from $45,100 in 1999 to $36,800 in 2001.
D000367:Age Factors; D003625:Data Collection; D005260:Female; D005377:Financial Management, Hospital / Q000191:economics*; D006740:Hospital Administrators / Q000191:economics*; D006801:Humans; D008297:Male; D012456:Salaries and Fringe Benefits / Q000706:statistics & numerical data* / Q000639:trends*; D013997:Time Factors; D014481:United States