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Across the country, average salaries for assisted living community presidents/CEOs increased 4.12% over the past year, according to “2021-2022 Assisted Living Salary & Benefits Report,” published by Hospital & Healthcare Compensation Service. Results were released Tuesday.
Average salaries for the position grew from $116,807 in 2020 to $121,615 in 2021, based on survey respondents who participated in both years.
Overall, including all respondents to this year’s survey, who may or may not have participated in previous years, $139,407 was the average total compensation, including salary and bonus, for the president/CEO position. As might be expected, top executives’ salaries increased with community revenue size or number of beds, according to the report.
Regionally, average president/CEO salaries were highest in the region of the country including New York, New Jersey and Pennsylvania, followed by the region that includes Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont. The region with the lowest recorded average was the one that contains Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah and Wyoming, but sufficient data were missing for two of nine regions.
In the 16 states for which there were sufficient data, the highest average salary went to presidents/CEOs in Massachusetts, and the lowest was in North Carolina.
Presidents/CEOs make more in continuing care retirement communities and nursing homes than in assisted living communities, according to the report. At the 50th percentile, the salary for an assisted living president/CEO was $106,000 in 2021, compared with $158,000 for a CCRC CEO and $120,810 for a nursing home CEO.
This year marks the 24th annual edition of the report, which is conducted with LeadingAge and supported by the National Center for Assisted Living. The report covers 20 management and 30 non-management positions. More than 1,100 assisted living communities participated in the study and provided data for more than 65,500 employees.
The 250-page report is available for purchase at the HCS website.