Jeffrey Romoff, president and CEO of the University of Pittsburgh Medical Center, received $3.563 million in salary in 2009, a 24.4 percent decrease from his 2008 salary of $4.711 million.
The drop reflects the health system's previously announced cuts in senior management compensation due to the economic downturn.
Read more: http://www.post-gazette.com/pg/10135/1058260-28.stm#ixzz1a7szMkwU
Still not bad work if you can get it,, I actually wrote this guy a few weeks ago about some issues I had with there (company),, i never got a response,, it was probably the case manager calling me
I heard Mr. Romoff doesn't do letters since his cut in pay..................(just kidding ;)
ya must be tough to buy stamps on that pittance,, prob steals them from the office supplys
you betcha...he was stealing stamps, stationary, envelopes, envelope licking sticks and WhiteOut before and after the salary cut!! his wife would find 20+ small stickey notepads in his suit pockets prior to sending off to the dry cleaner! I'm sure if they would have canned him he would not have been able to obtain another job due to all the petty company theft ;D I'd like to have a salary like that for just one year.....I'd pay all my bills, save the rest and be set for life! People don't need that much money so why do they end up working until they are 85??!!!!
I don't know...It is a job I wouldn't want. You can loose that money really easily with any sort of law suit against you or the company where you work. The higher the ranks, the higher the level of accountability. At the same time, they are putting in more than 40 hours a week as they have to be responsive to emergencies at all levels. He's not only involved in his own research to help solve our medical mysteries, but he is responsible for overseeing other researchers. He has a high level of accountability to make sure that research grants given to his company are being used properly according to the many aspects of the law. A lot of audits happen when you get grants. Then, you have all the issues regarding personnel. After helping my husband with his bar/restaurant for the past 8 years, I can tell you that personnel issues for 15-20 people is very time consuming even if you are not directly the one doing the paperwork. Making sure that all the documentation is in place for workman's comp, unemployment claims, payroll, discrimination claims, harassment issues, etc. I would NEVER want to be President or CEO of any organization that has more than 20 people working for them and would never want to have to deal with government regulations (liquor rules are bad enough!), lawsuits, etc. He can have his salary and I'll work for him if he wants me to help him.
I guess I need to mention a
gain the necessity of people making short paragraphs when they post. It has been noted the past couple of weeks that the paragraphs by many people are getting so long that they are very hard to read.
All of us have "funny" eyes, problems concentrating which is made worse when we have to squint at the same time. ::)
I am not blaming any one person. Just a gentle reminder so that we all can enjoy these posts. When they are so long I tend to just quit and go on to another thread. Thank you. Irish ;D ;D
no I wouldn't want all that responsibility, especially at my age. I had one very responsible and time consuming position, didn't make a ton of money but "made a difference" and that was my goal. I was ~42 and it was my last hurray in my field....I accomplished it in 3 years and then I said NO MORE STAFF!! I now work with medical students and some resident doctors but NO STAFF!
Well, above a certain amount (currently around $75K annually) money doesn't make people happier.
I don't know if that helps! This is from The New York Times:
http://bucks.blogs.nytimes.com/2010/09/27/the-odd-relationship-between-money-and-happiness/
You may have heard about the recent study out of Princeton University, in which Daniel Kahneman, a winner of the Nobel in economic science, and co-author Angus Deaton found that people reported an increase in happiness as their incomes rose to $75,000 a year. Then, the impact of rising income on happiness levels off.
Well, this consoles me a bit, especially in the face of the plummeting stock market and the apparently never ending 'recession' we're all suffering through.
Hugs
Elaine
Quote from: irish on October 07, 2011, 02:37:32 PM
I guess I need to mention again the necessity of people making short paragraphs when they post. It has been noted the past couple of weeks that the paragraphs by many people are getting so long that they are very hard to read.
Thanks, Irish. I have to skip any post with long paragraphs. I'm sure I miss all kinds of interesting things. ;)
Me too, Irish.
Dense paragraphs wear me out.
One sentence paragraphs keep me going.
8)
Hugs
Elaine
I wouldn't mind making $75,000.00 a year. Money can't buy you happiness but it can buy you other stuff. :P
Quote from: drylady on October 07, 2011, 04:20:08 PM
I wouldn't mind making $75,000.00 a year. Money can't buy you happiness but it can buy you other stuff. :P
TRUE!!
Why is this discussion even here?? I don't get it...?
Does the $75,000 salary tipping point mean that so long as I earn less, which is likely to be my fate, there is potential for my happiness level to perpetually increase?
So I should respectfully refuse offers of a pay increase? ;D
I;m sure hes aware that one slip up could send him packing,, and i am sure hes aware that he holds a position of responsibility, but i bet like a lot of ceos, he has a real nice golden parachute, trust me,, he sure isnt going to be living under a bridge and visiting food shelters anytime soon,,
Quote from: prunella on October 07, 2011, 06:55:26 PM
Does the $75,000 salary tipping point mean that so long as I earn less, which is likely to be my fate, there is potential for my happiness level to perpetually increase?
So I should respectfully refuse offers of a pay increase? ;D
-
oh yes.. and refusing all pay increases would solve all the financial woes in this country at the same time!! ;D
I am assuming this discussion or thread is here because this is the social section where we can post about lot of stuff that isn't medical. Did I miss something?? Irish ;D
Yes Confused - it is. I think someone asked why this thread was in SjS world at all and Irish was answering.
You are right - anything can be posted on the social board as long as it is within the rules.
Take care - Scottie :)
My old boss and I had a discussion once on executive salaries. This was a small company so we are definitely not taking big money at this place. He felt someone should get paid what they were worth, regardless of the amount.
I personally don't think AnyOne is worth $1 million a year even if they are on call 24/7. Heck they get a company car, paid travel/meals, company credit card, etc. etc.
What really really ticks me off is when I hear a company laying off people or the company is financially going in the toilet and the executives get a Big Pay Raise!!! Doesn't make any sense. No wonder the country is in bad shape.
Totally agree Pisces! Also, when all those bank/investment execs were taking those huge bonus' during the time the government was supposedly "bailing them out"! sick!
I would take a job paying that much if I were to be offered it. Afterall, think of all the charities I could support with it!!! My bills and family would be taken care of and then I could pick who to help. Let's see. Cancer based organizations such as the kidney cancer organization, first one.
Then, I've always wanted to make child care affordable to others who want to work but couldn't afford daycare.....Yup. I'll help. I'll open a day care center, hire a few people who couldn't get jobs before, and make it affordable for others.
There is so much good I could do with that money. That's where most charities get their money. That's also the type of person that starts a small business that hires others.
Companies have only one rule,, make money,, everything else is secondary,, I watch that show undercover boss,, and they get to see how some employees suffer,,, now you mean to tell me that most of these suits never knew that had probelms out in the field, I was on call 24/7 too,, I never got perks like some of these people get,, but to put it in perspective,, look at teh salarys of some ball players, 60 million over 5 years,, 70 million,, its insane,, and heaven forbid you get hurt the first game of the year and your out for the season,, so much for all the money you just spent,,
I guess i should have started this thread on teh social section,, thanks for moving it Mods
Some of the problem today is these companies are making a lot of $$ but just sitting on it and not hiriing. Seems they are "nervous" about hiring new employees.
Gosh, I sure know I do my part to stimulate the economy - whether I want to or not. LOL ;)
Oh BTW: I hear the folks on Social Security are finally going to get a raise. Will believe it when I see it