In a world where the bar keeps moving higher, it seems that bar has gone up yet again. It looks like University of Pittsburgh Medical Center CEO Jeffrey Romoff was paid almost $3.95 million in total compensation for fiscal 2007, up 19.7 percent from the year before. This can't feel great to board members who now are looking down the barrel of significant 2008 losses (though the losses, driven by investments shaken by the subprime debacle, can't be said to be Romoff's fault). All told, in its recent IRS disclosure forms for fiscal 2007, UPMC listed 11 people whose compensation topped $1 million.
Romoff's pay is notably higher than the $1.2 million average for CEOs at hospital systems with more than $1 billion in revenue noted by Sullivan, Cotter & Associates. On the other hand, it's worth noting that Romoff's fiscal 2006 compensation of $3.3 million was actually less than compensation paid to counterparts such as the Cleveland Clinic ($7.5 million) and Northwestern Memorial Hospital ($16.4 million).
To learn more about UPMC staff compensation:
- read this Pittsburgh Post-Gazette article
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