Study: Average CFO salary for multi-facility LTC companies $193,000

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The average salary for CFOs of multi-facility long-term care companies is $193,000, according to a new salary study released by the Hospital & Healthcare Compensation Service. In addition, the average annual bonus for those CFOs was nearly $67,000, according to the "2003-2004 Multi-Facility Corporate Compensation Report" from HCS.

For CFOs at chains with less than $50 million in annual revenues, the average salary was $115,000 and the average bonus was $12,000. The averages rose considerably for the $50 million to $250 million category ($186,000 salary and $40,000 bonus) and the over $250 million category ($289,000 salary and $143,000 bonus).

Long-term care salaries were generally sandwiched between those for multi-hospital and home-health multi-facility CFOs. The overall averages for salary and bonus for CFOs at multi-hospital companies were $232,000 and $95,000. In home health, the averages were $145,000 and 66,000. The 160-page report includes data from 88 of the nation's top 250 companies.