| Average cash compensation | $258,800 | ||
| Average gross annual salary | $229,700 | ||
| Percentage eligible for bonus/profit sharing | 63% | ||
| Average bonus/profit share | $46,100 | ||
| Median cash compensation | $209,000 | ||
| Percentage reporting directly to top administrator | 92% | ||
| Number of participants | 201 | ||
Demographics |
|||
| Average age | 53 | ||
| Average years experience in health care | 25 | ||
| Average years member of HFMA | 19 | ||
| Average years in current position | 8 | ||
| Average number of employees under direction | 143 | ||
| Median number of employees under direction | 70 | ||
Certifications |
Percentage | Compensation | |
| CPA | 48% | $316,700 | |
| FHFMA or CHFP | 36% | $292,300 | |
Education |
Percentage | Compensation | |
| Bachelor’s degree | 49% | $231,200 | |
| Master’s degree | 47% | $293,700 | |
Organization Type |
Percentage | Compensation | |
| Hospital with 25 beds or less | 30% | $141,100 | |
| Hospital with 26 to 60 beds | 11% | $158,600 | |
| Hospital with 61 to 210 beds | 20% | $234,200 | |
| Hospital with 211 beds or greater | 20% | $305,600 | |
| System level, headquarters or regional | 18% | $487,000 | |
Gender |
Percentage | Compensation | |
| Men | 67% | $294,200 | |
| Women | 32% | $188,600 | |
Net Operating Revenue of Employer |
Percentage | Compensation | |
| Less than or equal to $35 million | 24% | $121,900 | |
| From $36 million to $100 million | 24% | $182,000 | |
| From $101 million to $329 million | 24% | $271,400 | |
| Greater than or equal to $330 million | 24% | $469,300 | |
Years in Health Care |
Percentage | Compensation | |
| Less than or equal to 15 years | 24% | $177,600 | |
| From 16 to 25 years | 22% | $247,900 | |
| From 26 to 32 years | 28% | $312,700 | |
| More than or equal to 33 years | 22% | $293,300 | |
Number of Reporting Employees |
Percentage | Compensation | |
| Less than or equal to 24 employees | 24% | $146,000 | |
| From 25 to 65 employees | 24% | $183,700 | |
| From 70 to 150 employees | 26% | $247,700 | |
| Greater than or equal to 160 employees | 23% | $450,400 | |
Region |
Percentage | Compensation | |
| Northeast | 9% | $291,900 | |
| South | 25% | $307,200 | |
| Midwest | 44% | $236,600 | |
| West | 20% | $237,200 | |
Adjusted Medicare Wage Index 2017 |
Percentage | Compensation | |
| Less than or equal to .7992 | 24% | $183,200 | |
| From .8079 to .9001 | 25% | $210,200 | |
| From .9003 to .9877 | 25% | $284,900 | |
| More than or equal to .9885 | 25% | $353,000 | |
Years of HFMA membership |
Percentage | Compensation | |
| Less than or equal to 11 years | 24% | $158,300 | |
| From 12 to 20 years | 27% | $248,900 | |
| From 21 to 27 years | 23% | $265,900 | |
| More than or equal to 28 years | 26% | $353,900 | |
All of the respondents have the word “chief financial officer” or “CFO” in their titles. Compound titles such as CFO/VP or CFO/Controller are not uncommon and are included. 201 CFOs responded to the survey, out of 841 sampled, resulting in a response rate of 24%. There is 95% probability that the mean compensation for CFOs in HFMA lies between $231,900 and $285,700.
