Typical NYC hospital CEO earns more than $1 million a year

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The median salary for the CEO of a New York metropolitan area hospital or health system was more than $1.1 million in 2017, plus about $58,000 in other compensation such as retirement-plan contributions and fringe benefits.

That calculation comes from a Crain’s analysis of the 2017 IRS Forms 990 of more than 60 hospitals and health systems in New York City, Long Island, Westchester County and northern New Jersey.

The data is available in Crain’s most recent compensation database.

Mount Sinai Health System’s Dr. Kenneth Davis was the highest-paid CEO in 2017, earning $12.4 million in cash compensation because of an $8.3 million retirement plan payout.

The median includes only executives who hold the title of CEO—which excludes the heads of some hospitals who are described as president or executive director. The analysis also excluded leaders at facilities that reported a leadership transition in 2017 and as a result had two CEOs during the period.

In all, 49 CEOs met the criteria.

The results below are presented in the aggregate and separated by region. The median New York City and northern New Jersey CEO each earned $1.24 million in cash pay, with a higher level of non-cash compensation pushing the New Jersey leaders ahead in median pay package.

In an analysis of all the hospital and health system chief financial officers in the region, Crain’s found median cash pay was $570,000 in 2017, plus about $56,000 in other compensation. That calculation included 47 CFOs.

New York City finance chiefs were the best paid in the region, receiving about $748,000 in salary and bonuses and $57,000 in other compensation. They were followed by executives in northern New Jersey, Westchester and Long Island, respectively.

You can check out the salaries of health professionals in the New York metro area in Crain’s 2019 Health Pulse compensation database. It includes data on the pay packages of 1,227 executives and physicians working at hospitals and health systems in New York City, Long Island, Westchester County and northern New Jersey. The database reflects titles and salaries drawn from organizations’ 2017 IRS Forms 990, the most recent data available. Use the database to analyze peers’ compensation, retirement-plan contributions and fringe benefits.

This article was originally published in Crain’s New York Business.

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