In at least one sector of healthcare leadership, the gender salary gap hasn’t just been narrowed, but eliminated.
According to a recent CHIME survey, female CIOs and other senior healthcare IT executives earned about $30,000 more than their male counterparts. It also found that leaders from children’s hospitals earned the highest average salary.
“In many organizations, the CIO is a strategic partner who works across the healthcare system to improve health and care,” said Sheree McFarland, Division CIO of the West Florida Division of HCA Healthcare and a member of the CHIME Board of Trustees. “We are valued for our leadership skills and our ability to collaborate with everyone, from the CEO to clinicians to the finance department. As a member of Women of CHIME, it is rewarding to see that gender is not a barrier to equitable pay and that both our women and men members are recognized for their contributions.”
CHIME conducted the survey in late 2018, asking U.S-based members to answer multiple choice questions that included demographics, job structure, organization type, base salary and benefits, job satisfaction and more. A total of 266 CHIME members completed the survey.
The results indicated an uptick in base salaries from 2012, when CHIME conducted a similar questionnaire, and found that most respondents were satisfied or very satisfied with their total compensation and current job.
Among the key findings:
- The average base salary was $235,806 in 2018 vs. $208,417 in 2012.
- On average, women made $257,340 while men averaged $228,217.
- 18 percent of respondents reported that they received no increase to their salary for 2018.
- Almost 75 percent of respondents said that they were very satisfied or satisfied with their current jobs.
- Those who reported to be very satisfied with their total compensation had an average salary of $302,731 while those who said they were very unsatisfied had an average salary of $168,857.
- Some 6 percent of respondents reported having medical degrees and earned about 60 percent more than those with master’s degrees.
- The average salary for healthcare IT executives at smaller facilities (1-25 beds) was significantly lower than for those at larger facilities (400-699 beds), at $136,183 compared with $299,302.
All of this, however, comes at a price. According to CHIME, nearly half of respondents said they experienced heavier workloads in 2018 compared with the previous year, with 47 percent saying they worked more hours per week than in 2017.
For purposes of the survey, base salary was defined as what respondents are paid on an annual basis, before deductions for taxes, health and other types of insurance, other employment-related deductions and retirement fund contributions. Base salary also excludes any form of bonus payments received, which often represents a significant component of executive compensation. Over 95 percent of respondents said that they receive paid time off and health benefits and 70 percent received bonus payments.
To access the full report, click here.