Sunday, December 21, 2008

The big bucks

This morning’s Post-Standard includes my salary in its report "How CNY hospitals pay CEOs big bucks."

This is not the first time I’ve seen my pay reported in the local newspaper. About 15 years ago a story included my pay, and I remember feeling quite embarrassed by it at the time – especially in light of some comments that friends and co-workers felt obliged to make.

I am well paid for the work I do. I appreciate the confidence that has been shown in me by the Board of Directors, and I appreciate what the Board pays me.

The chart, below, shows how my pay last year compared with that of the CEOs at other Syracuse hospitals, according to today's newspaper.
CEO pay is public information for not-for-profit organizations such as hospitals. Each non-for-profit hospital is required to file an annual form with the IRS that documents its finances and includes the highest payments it makes to employees, officers, and vendors. Anyone can get a copy of IRS Form 990 by asking the organization for it or by consulting a service such as Guidestar.

About a year ago, Paul Levy, CEO of Beth Israel Deaconess Medical Center, reported on his blog about his own $1 million annual pay, commenting:
Americans are often ambivalent about high salaries for corporate executives: They often complain about them, but, at the same, time, everybody hopes that he or she can someday earn them!

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