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2009 Salary Survey Results
Income on the rise for risk managers
The economy may be struggling, but Healthcare Risk Management's Salary Survey indicates that income for health care risk managers is generally on the upswing.
The exclusive 2009 Healthcare Risk Management Salary Survey was sent to about 1,200 readers in the June 2009 issue. A total of 75 were returned, for a response rate of 6%. The results were tabulated and analyzed by AHC Media LLC, publisher of HRM.
The median income for health care risk managers in this year's survey is $125,000, up from last year's $95,000, which was the same as 2007, which had seen a significant increase from the $85,000 in the 2006 survey. The increase in this year's survey may signal a positive trend, overcoming the stagnation reported in the 2005 and 2006 survey results. A full 35% of respondents reported income in the $100,000 to $129,999 range, and 18% reported income of $130,000 or more. Another 14% reported income in the $90,000 to $99,999 range.
The median salary increase over the past year was 1% to 3%, lower than the 4% to 6% reported in both the 2008 and 2007 survey but consistent with the median increase that was much more common in years prior.One-third of respondents report salary increases in the 1% to 3% range. Sixteen percent report increases in the 4% to 6% range, and 7% report increases in the 7% to 10% range. One lucky respondent reports an increase in the 16% to 20% category.
Thirty-six percent report that their salaries did not change this year, and 7% report that their salaries decreased in 2009. That could be a true indicator of how the economy is hitting risk managers, as only a single reader, 0.83%, reported a decrease in the income in the 2008 report.
Hours worked increased
Incomes may be up, but so are the hours worked. The 2007 and 2008 surveys had suggested that hours worked was leveling out, but 2009 is showing risk managers behind the desk longer this year. In the 2008 survey, 27.5% reported working 46 to 50 hours per week, down from the 33% in 2007, but that figure jumps to 35% in this year's survey. Twelve percent report working 51 to 55 hours per week in 2009, and 10% report working 56 to 60 hours a week, about the same as the figures for 2008 and 2007.
Three percent report working 61 to 65 hours, up 1 percentage point from the 2008 survey. In this year's survey, 4% of respondents report working more than 65 hours per week and probably won't have time to read these results.