Annual Compensation Research Articles

Women in Higher Educational Leadership: Representation, Career Progression, and Compensation

Men in university administration repeatedly outnumber women in leadership positions. The problem under investigation is that this gender gap exists due to barriers to advancement and discrimination in both the hiring process and in the workplace. With less representation of women in higher education leadership, there is a higher risk of bias for women in this field. This study used an ex-post facto methodology and gathered public data from the University of California (UC) Annual Payroll Compensation database. Three separate studies were run to determine the level of gender differences in the representation of educational leaders, compensation, and career progression. Significant differences in gender equity existed, with more men represented at several levels of educational leadership. Significant differences were also found in compensation levels, where men earned more money than women in the same position. Lastly, a small effect, although not significant, was observed when comparing early career gender representation to non-early career gender representation. There are more women recent graduates than men in leadership positions. Together these results suggest that while there are gender gaps in representation and compensation, there may be slow progress towards better representation in early career leadership positions in the UC system. The implication of this research supports further research into factors which impact the compensation of women leaders in academia. Higher education hiring professionals and candidates for leadership positions could benefit from further development of theories around gender equity and representation. KEYWORDS: Gender Representation; Gender Equity; Higher Educational Leadership; Women; Higher Education; Psychology; Wage Gap; Higher Education Administration

By-Laws of the Bibliographical Society of America

By-Laws of the Bibliographical Society of America

Results of the 2019 AORN Salary and Compensation Survey.

AORN conducted its 17th annual compensation survey for perioperative nurses in June 2019. A multiple regression model was used to examine how several variables, including job title, education level, certification, experience, and geographic region, affect perioperative nurse compensation. Comparisons between the 2019 data and data from previous years are presented. The effects of other forms of compensation (eg, on-call compensation, overtime, bonuses, shift differentials, benefits) on total compensation also are examined. Additional analyses explore the current state of the nursing shortage and the sources of job satisfaction and dissatisfaction.

CEO compensation, portfolio holdings and strategic investments

PurposeThe purpose of this paper is to examine the relationship of CEO compensation plans and the risk of managerial equity portfolios with the extent of strategic investments in advertising, capital expenditures and research and development (R&D). The elements of compensation are salary, bonuses, options and restricted stock grants. The authors proxy the design of CEO equity portfolios by the price performance sensitivity of the holdings and the portfolio deltas.Design/methodology/approachThe authors use the components of executive compensation and portfolio risk as the dependent variables, regressing these against measures for the level of strategic investment. The authors test for non-linear relationships between the components of CEO compensation and strategic investments. The sample is a broad cross-section from 1992 to 2016.FindingsThe authors find strong support for non-linear relationships of capital expenditures and R&D with CEO bonuses, option grants and restricted stock grants. There are very complex relationships between the components of executive compensation and R&D expenditures, but little evidence of a relationship with advertising expenditures. The authors also find strong complex relationships in the design of CEO equity portfolios with advertising and R&D.Originality/valueLittle earlier research has considered advertising, capital expenditures and R&D in a unified framework. Also, testing for non-linear associations provides much greater insight into the relationship between the components of executive compensation and strategic investment. The findings represent a valuable incremental contribution to the executive compensation literature. The results also have normative policy implications for compensation committees’ design of optimal annual CEO compensation packages to incentivize or discourage particular strategic investment behavior.

Does protectionist anti-takeover legislation lead to managerial entrenchment?

I study a protectionist anti-takeover law introduced in 2014 that covers a subset of all firms in the economy. The law decreased affected firms’ likelihood of becoming the target of a merger or acquisition and had a negative impact on shareholder value. There is no evidence that management of those firms subsequently altered firm policies in its interest. Investment, employment, wages, profitability, and capital structure remain unchanged. The share of annual CEO compensation consisting of equity instruments increased by 8.4 percentage points, suggesting that boards reacted to the loss in monitoring by the takeover market by increasing the pay-for-performance sensitivity.

The 2018 Compensation Survey of the American Society of Breast Surgeons

There is limited compensation data for breast surgery benchmarking. In 2018, the American Society of Breast Surgeons conducted its second membership survey to obtain updated compensation data as well as information on practice type and setting. In October 2018, a survey was emailed to 2676 active members. Detailed information on compensation was collected, as well as data on gender, training, years in and type of practice, percent devoted to breast surgery, workload, and location. Descriptive statistics and multivariate analyses were performed to analyze the impact of various factors on compensation. The response rate was 38.2% (n = 1022, of which 73% were female). Among the respondents, 61% practiced breast surgery exclusively and 54% were fellowship trained. The majority of fellowship-trained surgeons within 5years of completion of training (n = 126) were female (91%). Overall, mean annual compensation was $370,555. On univariate analysis, gender, years of practice, practice type, academic position, ownership, percent breast practice, and clinical productivity were associated with compensation, whereas fellowship training, region, and practice setting were not. On multivariate analysis, higher compensation was significantly associated with male gender, years in practice, number of cancers treated per year, and wRVUs. Compensation was lower among surgeons who practiced 100% breast compared with those who did a combination of breast and other surgery. Differences in compensation among breast surgeons were identified by practice type, academic position, ownership, years of practice, percent breast practice, workload, and gender. Overall, mean annual compensation increased by $40,000 since 2014.

Benchmark on themselves: CEO-directors’ influence on the CEO compensation

PurposeThe purpose of this paper is to examine whether or not the chief executive officers’ (CEO) compensation is affected by the compensation of the outside directors sitting on their board, who are also CEOs of other firms.Design/methodology/approachThe authors collect CEOs’ and CEO-directors’ compensation data from Execucomp. The authors then match the CEO-directors’ compensation with appointing firms’ CEO compensation and financial statements, from Execucomp and Compustat, respectively. The sample contains 7,561 firm-year observations from 1996 to 2010, with 1,213 distinct S&P 1500 firms and 1,563 distinct CEO-directors. The authors use ordinary least squared method with firm and year fixed effect in most of the analysis.FindingsWith both annual and excess compensation, the authors find strong evidence that CEO-directors’ compensation is related to the compensation of the CEO. Causally, when CEO-director overturns his/her excess compensation from negative to positive, the CEO is more likely to have similar upward change in the following year, while more interestingly, the opposite does not hold. These findings are persistent over time and remain robust to various additional tests.Research limitations/implicationsDue to the data availability, this paper investigates the S&P 1500 public firms.Originality/valueIt is the first work that investigates the link between board members’ external compensation and the CEO’s compensation. This sheds new light on the process of the CEO’s compensation design, in regard to both the information being utilized in the design procedure and the CEO’s influence on his/her own compensation. Second, this paper adds additional evidence to the choice of peer groups in compensation construction. Third, the authors enhance the understanding of the role of CEO-directors. The authors show that CEO-directors may be the ally of CEO, and help in justifying CEO’s compensation, especially when underpaid.

Conservation contracts for supplying Farm Animal Genetic Resources (FAnGR) conservation services in Romania

This paper describes a choice experiment (CE) administered to explore farmer preferences for conservation agreements to conserve rare breeds among a sample of 174 respondents in Transylvania (Romania). The study site was chosen due to the prevalence of small-scale and extensive farm systems threatened by a changing policy environment that is increasing the scale and intensity of production units. Agreement attributes included length of conservation contract (5 or 10 years); scheme structure (community or individual managed conservation programme), and scheme support (application assistance or farm advisory support). A monetary attribute that reflects compensation for scheme participation allows the assessment of farmers’ willingness to accept (WTA) for different contracts. Results suggest 89% of respondents would be willing to farm with rare breeds; cattle and sheep being the most popular livestock option; 40% of farmers were reportedly farming with endangered breeds. However, only 8% were likely to qualify for funding support under current requirements. WTA estimates reveal minimum annual compensation values of €167 and €7 per year respectively, for bovine and ovine farmers to consider enrolling in a contract. These values are comparable to Romanian Rural Development Programme (RDP) support offered to farmers keeping rare breeds of €200 and €10 per year for bovine and ovine farmers respectively. Our estimates of scheme uptake, calculated with coefficient values derived from the CE, suggest rare breed conservation contracts are considered attractive by Romanian farmers. Analysis suggests meeting farmer preferences for non-monetary contractual factors will increase participation.

Publication, Compensation, and the Public Affairs Discount: Does Gender Play a Role?

This paper presents on three new styled facts: first, schools of public affairs hire many economists; second, those economists are disproportionately female; and third, salaries in schools of public affairs are, on average, lower than salaries in mainline departments of economics. We seek to understand the linkage, if any, among these facts. We assembled a unique database of over 2,150 faculty salary profiles from the top 50 Schools of Public Affairs in the United States as well as the corresponding Economics and Political Science departments. For each faculty member we obtained salary data to analyze the relationship between scholarly discipline, department placement, gender, and annual salary compensation. We found substantial pay differences based on departmental affiliation, significant differences in citation records between male and female faculty in schools of public affairs, and no evidence that the public affairs discount could be explained by compositional differences with respect to gender, experience or scholarly citations.

Service Quality Perception of Customers – a Study of Toyota Motors in India

Attrition is the major problem in the Indian Retail Industry which experienced the attrition rate of 19.4% in FY 2016 according to KPMG Annual Compensation Trends Survey 2017-18. The focus of these organizations is to reduce turnover by focusing on the underlying factors leading to turnover intentions and actual turnover. The present study was conducted to explore the effect of job satisfaction and core self-evaluation on turnover intentions. The purpose of the study was also to see if core self-evaluation (CSE) moderates the relationship between job satisfaction and turnover intentions. The study was conducted using structured questionnaires for measuring the above-mentioned variables. The sample of the study was 347 salespersons from various retail organizations working in Delhi and NCR. Hierarchical multiple regression showed that both job satisfaction and CSE were negatively related to turnover intentions. Also, CSE was found to moderate the relationship between job satisfaction and turnover intentions such that the relationship was stronger for the employees with low core self-evaluation. The present study has important implications for policy makers in the retail sector. Managers should use strategies to increase job satisfaction in order to curb high attrition in this sector. They must be aware of the moderating role played by personality attributes in the relationship between job satisfaction and turnover intentions.

Impact of Core-self Evaluation and Job Satisfaction on Turnover Intentions: a Study of Indian Retail Sector

Attrition is the major problem in the Indian Retail Industry which experienced the attrition rate of 19.4% in FY 2016 according to KPMG Annual Compensation Trends Survey 2017-18. The focus of these organizations is to reduce turnover by focusing on the underlying factors leading to turnover intentions and actual turnover. The present study was conducted to explore the effect of job satisfaction and core self-evaluation on turnover intentions. The purpose of the study was also to see if core self-evaluation (CSE) moderates the relationship between job satisfaction and turnover intentions. The study was conducted using structured questionnaires for measuring the above-mentioned variables. The sample of the study was 347 salespersons from various retail organizations working in Delhi and NCR. Hierarchical multiple regression showed that both job satisfaction and CSE were negatively related to turnover intentions. Also, CSE was found to moderate the relationship between job satisfaction and turnover intentions such that the relationship was stronger for the employees with low core self-evaluation. The present study has important implications for policy makers in the retail sector. Managers should use strategies to increase job satisfaction in order to curb high attrition in this sector. They must be aware of the moderating role played by personality attributes in the relationship between job satisfaction and turnover intentions.

Deferred cash compensation and risk-taking: Evidence from the Chinese banking industry

Starting in 2010, the China Banking Regulatory Commission (CBRC) mandated that between 40% and 50% of the annual variable compensation of senior commercial bank managers be paid over the subsequent 3 years or longer. We examine the implications of the CBRC deferred compensation regulation for bank risk-taking using a sample of 156 bank executives from 14 listed Chinese commercial banks. We find that before the 2010 regulation, high-risk banks deferred executive compensation less than low-risk banks. We also find that banks reduced their risk-taking after the 2010 regulation, and the reduction was greater for banks with higher pre-regulation risk. Unlike prior research which examines equity compensation, we provide evidence on the use of deferred executive cash compensation and its implications for bank risk-taking in an emerging market.

By-Laws of the Bibliographical Society of America

By-Laws of the Bibliographical Society of America

Understanding the role of advanced practice providers in oncology in the United States.

Advanced practice providers (APPs, which include NPs and physician assistants [PAs]) are integral members of oncology teams. This study aims first to identify all APPs in oncology and, second, to understand personal and practice characteristics (including compensation) of those APPs. We identified APPs who practice oncology from membership and claims data. We surveyed 3,055 APPs about their roles in clinical care. We identified at least 5,350 APPs in oncology and an additional 5,400 who might practice oncology. Survey respondents totaled 577 out of 3,055, which provided a 19% response rate. Results focused on 540 NPs and PAs. Greater than 90% reported satisfaction with career choice. Respondents identified predominately as white (89%) and female (94%). NPs and PAs spent the majority (80%) of time in direct patient care. The top four patient care activities were patient counseling (NPs, 94%; PAs, 98%), prescribing (NPs, 93%; PAs, 97%), treatment management (NPs, 89%; PAs, 93%), and follow-up visits (NPs, 81%; PAs, 86%). A majority of all APPs reported both independent and shared visits (65% hematology/oncology/survivorship/prevention/pediatric hematology/oncology; 85% surgical/gynecologic oncology; 78% radiation oncology). A minority of APPs reported that they conducted only shared visits. Average annual compensation was between $113,000 and $115,000, which is about $10,000 higher than average pay for APPs not in oncology. We identified 5,350 APPs in oncology and conclude that number may be as high as 7,000. Survey results suggest that practices that incorporate APPs routinely rely on them for patient care. Given the increasing number of patients with and survivors of cancer, APPs are important to ensure access to quality cancer care now and in the future.

Results of the 2018 AORN Salary and Compensation Survey.

AORN conducted its 16th annual compensation survey for perioperative nurses in June 2018. A multiple regression model was used to examine how several variables, including job title, education level, certification, experience, and geographic region, affect perioperative nurse compensation. Comparisons between the 2018 data and data from previous years are presented. The effects of other forms of compensation (eg, on-call compensation, overtime, bonuses, shift differentials, benefits) on total compensation also are examined. Additional analyses explore the current state of the nursing shortage and the sources of job satisfaction and dissatisfaction.

Crew in the West Coast Groundfish Catch Share Program: Changes in Compensation and Job Satisfaction

Catch share programs can have far-reaching effects on coastal communities and the people that rely on fishing income, including crew members. Analysis of management actions affecting crew wages and well-being is often limited due to a dearth of available data. We examine crew-related outcomes during the first six years of the West Coast Groundfish Trawl Catch Share Program using two unique datasets – a mandatory economic survey and a voluntary social science study. We find that impacts on crew compensation differ from other catch share programs due to prior conditions of the fishery and also vary by the target species within the program. The median number of crew positions per vessel increased slightly, annual crew days decreased, and crew wage as a percentage of revenue was nearly unchanged, even with the introduction of new costs. Median daily crew compensation increased from $514 per day to $776 after implementation of catch shares and annual compensation increased from $33 thousand to $39 thousand. Many crew members expressed a lack of support for the program and job satisfaction did not rise with increased wages and fewer days at sea, indicating that job satisfaction is likely influenced by more than compensation and effort.

Understanding the Role of Advanced Practice Providers in Oncology in the United States.

Advanced practice providers (APPs, which include nurse practitioners [NPs] and physician assistants [PAs]) are integral members of oncology teams. This study aims to identify all oncology APPs and to understand personal and practice characteristics (including compensation) of those APPs. We identified APPs who practice oncology from membership and claims data. We surveyed 3,055 APPs about their roles in clinical care. We identified at least 5,350 APPs in oncology and an additional 5,400 who might practice oncology. Survey respondents totaled 577, which provided a 19% response rate. Results focused on 540 NPs and PAs. Greater than 90% reported satisfaction with career choice. Respondents identified predominately as White (89%) and female (94%). NPs and PAs spent the majority (80%) of time in direct patient care. The top four patient care activities were patient counseling (NPs = 94%; PAs = 98%), prescribing (NPs = 93%; PAs = 97%), treatment management (NPs = 89%; PAs = 93%), and follow-up visits (NPs = 81%; PAs = 86%). A majority of all APPs reported both independent and shared visits (65% hematology/oncology/survivorship/prevention/pediatric hematology/oncology; 85% surgical/gynecologic oncology; 78% radiation oncology). A minority of APPs reported that they conducted only shared visits. Average annual compensation was between $113,000 and $115,000, which is approximately $10,000 higher than average pay for nononcology APPs. We identified 5,350 oncology APPs and conclude that number may be as high as 7,000. Results suggest that practices that incorporate APPs routinely rely on them for patient care. Given the increasing number of patients with and survivors of cancer, APPs are important to ensure access to quality cancer care.

Understanding the Role of Advanced Practice Providers in Oncology in the United States

Purpose: Advanced practice providers (APPs, which include nurse practitioners [NPs] and physician assistants [PAs]) are integral members of oncology teams. This study aims first to identify all oncology APPs and, second, to understand personal and practice characteristics (including compensation) of those APPs. Methods: We identified APPs who practice oncology from membership and claims data. We surveyed 3,055 APPs about their roles in clinical care. Results: We identified at least 5,350 APPs in oncology and an additional 5,400 who might practice oncology. Survey respondents totaled 577, which provided a 19% response rate. Results focused on 540 NPs and PAs. Greater than 90% reported satisfaction with career choice. Respondents identified predominately as white (89%) and female (94%). NPs and PAs spent the majority (80%) of time in direct patient care. The top four patient care activities were patient counseling (NPs, 94%; PAs, 98%), prescribing (NPs, 93%; PAs, 97%), treatment management (NPs, 89%; PAs, 93%), and follow-up visits (NPs, 81%; PAs, 86%). A majority of all APPs reported both independent and shared visits (65% hematology/ oncology/survivorship/prevention/pediatric hematology/oncology; 85% surgical/ gynecologic oncology; 78% radiation oncology). A minority of APPs reported that they conducted only shared visits. Average annual compensation was between $113,000 and $115,000, which is approximately $10,000 higher than average pay for nononcology APPs. Conclusion: We identified 5,350 oncology APPs and conclude that number may be as high as 7,000. Survey results suggest that practices that incorporate APPs routinely rely on them for patient care. Given the increasing number of patients with and survivors of cancer, APPs are important to ensure access to quality cancer care now and in the future.

Understanding the Role of Advanced Practice Providers in Oncology in the United States.

Advanced practice providers (APPs, which include nurse practitioners [NPs] and physician assistants [PAs]) are integral members of oncology teams. This study aims first to identify all oncology APPs and, second, to understand personal and practice characteristics (including compensation) of those APPs. We identified APPs who practice oncology from membership and claims data. We surveyed 3,055 APPs about their roles in clinical care. We identified at least 5,350 APPs in oncology and an additional 5,400 who might practice oncology. Survey respondents totaled 577, which provided a 19% response rate. Results focused on 540 NPs and PAs. Greater than 90% reported satisfaction with career choice. Respondents identified predominately as white (89%) and female (94%). NPs and PAs spent the majority (80%) of time in direct patient care. The top four patient care activities were patient counseling (NPs, 94%; PAs, 98%), prescribing (NPs, 93%; PAs, 97%), treatment management (NPs, 89%; PAs, 93%), and follow-up visits (NPs, 81%; PAs, 86%). A majority of all APPs reported both independent and shared visits (65% hematology/oncology/survivorship/prevention/pediatric hematology/oncology; 85% surgical/gynecologic oncology; 78% radiation oncology). A minority of APPs reported that they conducted only shared visits. Average annual compensation was between $113,000 and $115,000, which is approximately $10,000 higher than average pay for nononcology APPs. We identified 5,350 oncology APPs and conclude that number may be as high as 7,000. Survey results suggest that practices that incorporate APPs routinely rely on them for patient care. Given the increasing number of patients with and survivors of cancer, APPs are important to ensure access to quality cancer care now and in the future.

Gender Differences in Hospital CEO Compensation: A National Investigation

Gender pay equity is a desirable social value and an important strategy to fill every organizational stratum with gender-diverse talent to fulfill an organization’s goals and mission. Drawing from a conceptual framework featuring institutional theory, we employed national, large-sample data to examine gender difference in CEO compensation among not-for-profit hospitals. Results showed the average unadjusted annual compensation for female CEOs in 2008 was $425,085 compared to $581,121 for male CEOs. With few exceptions, the difference existed across all types of not-for-profit hospitals. After controlling for hospital and area-level characteristics, female CEOs of not-for-profit hospitals earned 22.6% percent less than male CEOs of not-for-profit hospitals. This translates into an earnings differential of $132,658 associated with gender. Explanations and implications of the results are discussed.