Briefly: Hospital CEO compensation hits $2 million mark

Yale-New Haven Hospital President and CEO Marna Borgstrom SPH ’79 passed the $2 million mark in total compensation for fiscal year 2008, according to data released by the Service Employees International Union on Wednesday. According to the data, Borgstrom made a $1.53-million salary and over $480,000 in fringe benefits. The IRS reported in February that the average salary for top management officials at hospitals with over $500 million in yearly revenue is $877,200 and the average bonus compensation is about $214,000, totaling a value about half of Borgstrom’s 2008 compensation. Julia McNamara, chair of the independent Yale-New Haven Health System, said in a statement that Borgstrom’s salary is paid half by the hospital and half by her system, and thus the hospital salary is about $750,000. Hospital spokesman Vin Petrini said he is unsure of how fringe benefits have been paid out by the two parties, adding that senior executives have elected to have their salaries frozen this year.

Comments

  • Alum

    Meanwhile, workers at YNHH are losing their jobs.

    UNION NOW!

  • Kris

    Can you tell me the name of one person at ynhh that lost their job? It would be unionized university employees that lost jobs!Lets see what kind of raises if any they get with this new contract,meanwhile ynhh is giving up to 5% raises each year with no union. NO UNION EVER AT YNHH!!

  • Anonymous

    Just to set the record straight ALUM, YNHH employees have not lost any jobs to layoffs unlike Yale University employees. Why hasen't the SEIU published how many people they have laidoff in their organization? Why haven't they published how they are out sourcing work to temp firms? I feel for the University people who are going to get laidoff. I spoke to a clerical person who said she might have to call in everyday to find out where she will be working that day. So this is what a union does for someone who pays dues? She also told me everytime her pay went up so did her dues and parking. Besides that, she told me that with this new contract, she will not be getting a raise next year. The union also told them not to talk to the press at all. It seems to me that the SEIU targets in on Marna everytime they need to get the focuss off themselves. The University management are not the only ones getting laid off. Just speak to local 34 clerical employees who's union reps went to their jobs to soften the blow. How sad!!!

  • anonMD

    I'm sure the CEO justifies the salary increase by comparing it to "equivalent" salaries. Does that include for profit businesses?

  • Anonymous

    The salary comps are based on other not-for-profit health systems, not for-profits. Look up others. Let's focus on keeping jobs.

  • Lydiaja

    Work at cost. April hiring was an excellent sign, however it was tempered by more joblessness filings from the invisible masses of the discouraged. Yet the average United States worker income remained largely stagnant. And to add insult to injury, CEO pay shot up to the highest level since 2007, according to the Associated Press. I found this here: [CEO salaries at highest level since 2007][1]

    [1]: http://personalmoneystore.com/moneyblog/2011/05/06/ceo-salaries-higher-2010