Long-term care corporate executives saw an average increase in salary of 2.98% in 2020, according to the 2020–2021 Multi Facility Corporate Compensation Report released Monday by the Hospital & Healthcare Compensation Service.
The study covers executive compensation of the largest single-site assisted living communities, continuing care retirement communities and nursing homes, as well as top executives in multi-site organizations.
Overall, the salary increase for long-term care corporate executives ranged from a minimum of 1% to a maximum of 4% from the period of October 2019 to September 2020, the research found. Long-term care companies’ planned increases for the period of October 2020 to September 2021 are expected to average 2.72%, with a minimum of 1% and a maximum of 4%.
Altogether, the report contains salary and total compensation data from 99 multi-facility companies, including 49 residential long-term care settings as well as 28 home health/hospice systems and 22 hospitals. The report also includes data on pay policies and corporate benefits.
The 100-page report is available in hard copy form, PDF or Excel spreadsheet for $675. To order, visit www.hhcsinc.com or call (201) 405‑0075.