CEO compensation surged at many S&P 500 companies in 2023, marking a significant rebound from the prior year's tepid growth, according to early findings from The Wall Street Journal.
Compensation Issues
Hospitals and health systems offer some of the highest wages for entry-level workers, going head-to-head with major companies in most states and large cities, according to a recent analysis.
In 2023, HCA Healthcare's CEO and CFO saw overall compensation grow due to non-equity incentives, according to a proxy statement filed March 15 with the Securities and Exchange Commission.
OhioHealth Van Wert (Ohio) Hospital increased minimum wage for hospital associates March 17 by $2 to reach $16 per hour.
By the end of March, Pittsburgh-based Allegheny Health Network said it will be raising its minimum wage to $18 per hour.
Advertisement
Ballad Health is increasing pay rates for nursing staff at hospitals across the organization, a spokesperson for the Johnson City, Tenn.-based health system confirmed to Becker's.
Minimum wages vary across the U.S., and more than 20 states increased their minimum wages as of Jan. 1.
In 2023, men earned higher wages than women in 20 of the most prevalent occupations for women, including nursing, where they earned nearly $250 more per week, according to a March 7 report from the Institute for Women's Policy Research.
Greenville, N.C.-based ECU Health is increasing starting wages for its new employees from $15 an hour to $16 an hour.
Springfield, Mass.-based Baystate Health is delaying annual pay increases typically effective in April each year for qualifying workers, citing financial challenges.