Labor Cost Management

Vice President of Finance

July 16, 2015 2:04 pm

Average Cash Compensation $269,200
Average gross annual salary $234,400
Percentage eligible for bonus or profit sharing 81%
Average bonus or profit sharing $42,800
Median Cash Compensation $238,500
Percentage reporting directly to the top administrator 53%
Percentage reporting directly to an officer 46%
Number of Participants 166
DEMOGRAPHICS
Average Age 53
Average Years Experience in Healthcare 27
Average Years Member of HFMA 21
Average Years in Current Position 9
Average Number of Employees Under Direction 101
Median Number of Employees Under Direction 40
CERTIFICATIONS Percentage Compensation
CPA 61% $287,300
FHFMA or CHFP 28% $300,700
EDUCATION Percentage Compensation
Bachelor’s Degree 37% $263,300
Master’s Degree 61% $274,000
ORGANIZATION TYPE Percentage Compensation
Hospital with 151 beds or less 14% $193,500
Hospital from 168 to 451 beds 14% $226,100
Hospital with 455 beds or greater 14% $309,300
System level, headquarters or regional 55% $294,900
GENDER Percentage Compensation
Men 63% $281,400
Women 36% $247,400
NET OPERATING REVENUE OF EMPLOYER Percentage Compensation
Less or equal to $160 million 24% $188,300
From $170 million to $680 million 24% $248,800
From $726 million to $1,800 million 23% $278,800
Greater than or equal to $2 billion 25% $369,900
YEARS IN HEALTHCARE Percentage Compensation
Less than or equal to 21 Years 24% $265,100
From 22 to 27 Years 21% $243,200
From 28 to 34 Years 21% $317,200
More than or equal to 35 Years 24% $253,600
NUMBER OF REPORTING EMPLOYEES Percentage Compensation
Less than or equal to 8 Employees 23% $280,300
From 10 to 35 Employees 26% $258,400
From 40 to 95 Employees 24% $230,000
Greater than or equal to 100 Employees 27% $305,700
REGION Percentage Compensation
Northeast 28% $274,300
South 29% $241,300
Midwest 33% $275,600
West 8% -small sample-
YEARS IN HFMA Percentage Compensation
Less than or equal to 13 Years 26% $249,900
From 14 to 20 Years 23% $268,500
From 21 to 28 Years 27% $278,700
More than or equal to 29 Years 24% $280,400

All of the respondents include “Vice President” or “VP” in their title. This sample includes titles such as “Senior” and “Executive” VP, but not “Assistant” VP.
Compound titles such as CFO/VP Finance were considered as CFOs rather than VPs.

166 Vice Presidents responded to the survey, out of 600 sampled, resulting in a response rate of 28%.

There is 95% probability that the mean compensation for Vice Presidents of Finance in HFMA lies between $248,200 and $290,300.

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