Last December, Mr. Anderson received a $15,000 salary hike, his second raise since November 2010. Last August, he also received a $115,000 bonus after helping steer the financially ailing hospital’s turnaround. In total, his compensation surpassed $700,000 in 2011 between salary, bonuses and other benefits.
Tri-City’s board commissioned a compensation study to see if another salary raise was warranted. The hospital said it seeks to have CEO pay in the 50th to 65th percentile, according to the report. Accounting for geographic differentials, Mr. Anderson’s compensation fell in the 56th percentile.
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