The Average Salary of a CEO of a Public Hospital
Chief executive officers of public hospitals, or CEOs, are responsible for the daily operations of the hospital, according to the U.S. Bureau of Labor Statistics. They ensure budgets are met, resources are used without waste, and policies and regulations aren't violated. CEOs make a handsome income, but also work long hours, evenings and weekends, and may also have to travel often.
Other People Are Reading
-
Salary by Number of Hospital Beds
-
According to salary information updated December 2010, a hospital CEO's income is dependent, in part, on the size of the hospital he works for. For example, a CEO working for a small hospital with less than 50 beds can expect to earn between $70,000 and $154,000 annually, according to PayScale. A CEO in charge of a hospital with as many as 299 beds can earn $375,000 a year, while CEOs who work for much larger hospitals actually report earning less than that in a year, with the highest income reaching $244,000.
CEO Wage Comparison to Other Industries
-
As of 2010, the average wage for a hospital CEO is between $121,000 and $233,000, according to PayScale. By comparison, a CEO working for a school district earns between $108,000 and $200,000 a year, while a CEO working for the state or local government earns between $82,000 and $147,000 a year. Based on the information available, hospital CEOs occupy one of the top-earning sectors in their field.
-
Education and Experience
-
Candidates for the position of hospital CEO usually hold a bachelor's or master's degree, according to the U.S. Bureau of Labor Statistics. Since hospitals cater to the public, candidates may need to possess a degree in liberal arts or public administration. However, as the bureau points out, some CEOs have risen to their current positions by being promoted from lower levels of management, without the benefit of a degree.
Job Outlook
-
While the overall employment outlook for top executives isn't supposed to grow, opportunities are still expected within the health care industry, according to the U.S. Bureau of Labor Statistics. Competition for such positions will be quite high, as the prestige, and the salary that comes with it, are desirable rewards.
-
References
- Photo Credit hospital surgery operating room image by alma_sacra from Fotolia.com
