For-Profit Pay Scales at Non-Profit Institutions?

Chief executives at charitable hospitals in Massachusetts received substantial pay and benefit increases in fiscal year 2005, for the first time boosting their overall compensation to more than $1 million at most of the largest institutions.

Also, the highest-paid hospital executive in the state, Partners HealthCare chief executive James J. Mongan, broke the $2 million barrier, another significant milestone.

“Just because the hospitals are nonprofit doesn’t mean they can afford second-class leadership,” [Partners HealthCare Board Chair] Connors said. “I really feel we’re doing the right thing by paying these guys top dollar in the field.”

— from Hospital CEOs join the $1m Club, Boston Globe, August 31, 2006.

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