| Average Cash Compensation | $127,600 | ||
| Average gross annual salary | $121,600 | ||
| Percentage eligible for bonus or profit sharing | 50% | ||
| Average bonus or profit sharing | $12,000 | ||
| Median Cash Compensation | $115,600 | ||
| Percentage reporting directly to the top administrator | 15% | ||
| Percentage reporting directly to an officer | 67% | ||
| Percentage reporting to a mid-level manager | 15% | ||
| Number of Participants | 181 | ||
| DEMOGRAPHICS | |||
| Average Age | 46 | ||
| Average Years Experience in Healthcare | 19 | ||
| Average Years Member of HFMA | 12 | ||
| Average Years in Current Position | 6 | ||
| Average Number of Employees Under Direction | 11 | ||
| Median Number of Employees Under Direction | 5 | ||
| CERTIFICATIONS | Percentage | Compensation | |
| CPA | 38% | $138,600 | |
| FHFMA or CHFP | 13% | $135,700 | |
| EDUCATION | Percentage | Compensation | |
| Bachelor’s Degree | 41% | $120,500 | |
| Master’s Degree | 55% | $132,800 | |
| TITLE | Percentage | Compensation | |
| Manager | 23% | $94,800 | |
| Director | 75% | $138,900 | |
| ORGANIZATION TYPE | Percentage | Compensation | |
| Hospital with 142 beds or less | 14% | $112,200 | |
| Hospital from 143 to 245 beds | 14% | $107,400 | |
| Hospital from 270 to 475 beds | 14% | $139,700 | |
| Hospital with 495 beds or greater | 14% | $139,800 | |
| System level, headquarters or regional | 35% | $132,700 | |
| GENDER | Percentage | Compensation | |
| Men | 48% | $134,100 | |
| Women | 50% | $120,300 | |
| NET OPERATING REVENUE OF EMPLOYER | Percentage | Compensation | |
| Less than or equal to $108 million | 22% | $103,100 | |
| From $112 million to $335 million | 22% | $116,900 | |
| From $350 million to $1,100 million | 22% | $131,200 | |
| Greater than or equal to $1,200 million | 22% | $143,000 | |
| YEARS IN HEALTHCARE | Percentage | Compensation | |
| Less than or equal to 10 Years | 22% | $109,000 | |
| From 11 to 18 Years | 23% | $121,200 | |
| From 19 to 27 Years | 23% | $137,200 | |
| More than or equal to 28 Years | 20% | $147,800 | |
| NUMBER OF REPORTING EMPLOYEES | Percentage | Compensation | |
| Less than or equal to 1 Employee | 29% | $116,800 | |
| From 2 to 4.5 Employees | 17% | $111,900 | |
| From 5 to 11 Employees | 29% | $122,900 | |
| Greater than or equal to 12 Employees | 25% | $156,500 | |
| REGION | Percentage | Compensation | |
| Northeast | 24% | $135,400 | |
| South | 22% | $132,600 | |
| Midwest | 34% | $116,300 | |
| West | 19% | $130,000 | |
| YEARS IN HFMA | Percentage | Compensation | |
| Less than or equal to 4 Years | 24% | $105,000 | |
| From 5 to 9 Years | 27% | $122,800 | |
| From 10 to 17 Years | 24% | $127,100 | |
| More than or equal to 18 Years | 24% | $156,000 | |
All of the participants have titles indicating mid-management responsibilities. Most titles include wording such as finance, financial, or fiscal services. Titles including the words “financial reporting” were considered to be directors of accounting.
181 finance managers and directors responded to the survey, out of 600 sampled, resulting in a response rate of 30%.
There is 95% probability that the mean compensation for directors and managers of finance in HFMA lies between $121,300 and $133,900.
