April 4 2012
Hallock: setting exec pay not easy
Executive pay for nonprofit administrators continues to be a hot topic, especially in New York State. New York Governor Andrew M. Cuomo and Attorney General Eric T. Schneiderman are both advocating greater accountability and stronger oversight of nonprofit groups. Nonprofit hospitals claim that their industry is unique and they must offer competitive compensation packages in order to recruit administrators with the skills and talents needed for their business.
The recent article written by Lower Hudson Valley reporter Cathey O’Donnell, “At Westchester Medical Center, executives get raises, others lose jobs,” focuses on one local hospital to explore tensions between employee layoffs and hiring freezes and increasing executive pay packages.
Kevin Hallock, director of the Institute for Compensation Studies, contributes to the discussion, outlining some of the complex issues surrounding what is “reasonable” executive compensation and what the potential impact could be of more compensation regulation.
Read the complete discussion in LoHud’s: At Westchester Medical Center, executives get raises, others lose jobs.