Back in November I wrote about the fact that universities have become businesses. One indication of this was the payment of compensation to retired presidents. Supposedly, they are being paid because of their fund-raising skills. Payments are in the six and seven figure range as they assume some position at the university.
But the size of these payments is dwarfed by the retirement payments made to presidents of non-profit hospitals; the typical reason is fund-raising skills, the typical retirement 'job' is executive vice chairman.
Some examples of what these skills are worth:
$5,600,000 to the NewYork-Presbyterian Hospital former CEO.
$4,400,000 to the CEO of Momtefiore.
$4,000,000 to the chief executives of North Shore-L.I.J.and NYU Langone Medical Center.
Yes, these are all jobs in NYC. But, things aren't too bad for other presidents. Nationally, the average nonprofit hospital chief earned $475,600 in total compensation.
No comments:
Post a Comment