How This Sector Will Continue Booming In the Future
One of the most taxing and at the same time rewarding job is that of a nursing home administrator. They are like the all-rounder champions who handle everything and everyone from staff meetings to updating technologies, nurses, and the facility’s residents. So, it’s a given that they should be awarded nursing home administrator salaries that is worthy of their duties. Recently, a report by The Nursing Home Salary and Benefits revealed that salaries of people working in a nursing home facility would see a rise in the coming year. This was one of the largest surveys conducted and data collected for over two years from 2016 to 2017, showed the future salaries for nursing home administrators in 2018.
The report released by the Hospital and Healthcare Compensation Service showed that:
- There was a near 3% increase in most of the workers’ salaries.
Published with help from LeadingAge and supported by the American Health Care Association, the survey came as a relief for nursing home administrators who put in long and hectic hours and do more than the facility owner’s expectations.
- The 3% increase amounted to $97,401
- The average salary of a nursing home administrator in 2016 was $94,584
- With a rise of 2.98%, the new salary implemented in 2017, is going strong in 2018
However, the rise was not much of a surprise as last year’s report showed that at that time, the salary rose by 3.78%.
Nursing home administrators were not the only one who got the salary boost.
- The chief financial officers and executive directors also got a boost in their salaries at a respective 2.46% and 2.09%.
The results of the survey revealed that although these two designations got an increase in salary, compared to their counterparts both earned less.
Directors of nursing saw a rise of 2.64% in just one year. In 2016, they were working for $89,092 and now, this amount has risen to $91,444. If you look at the nursing home administrator’s salary, this is not a significant increase. However, the difference is that depending on the latter’s qualification and work experience, they can still get a surplus increase of around $4,000.
Nursing Home Salary Trends
The following salary trends show the collection of data from facilities that participated in the “Nursing Home Salary and Benefits” survey in both 2016 and 2017:
|Nursing Home Administrator||$94,584||$97,401||2.98%|
|Chief Financial Officer||$127,949||$130,624||2.09%|
|Director of Nurses||$89,092||$91,444||2.69%|
|Director of HR||$75,307||$77,676||3.14%|
|Director of Marketing||$54,932||$56,484||2.83%|
Note: This salary report is also valid for the year 2018. The salary may increase by a couple of $1,000 if the person has more experience.
As for the lower level positions, the Assistant DONs also saw their salary increasing by 2.31%. Last but not the least, the Directors of Marketing got an increase of 2.83%.
The benefits and nursing home administrator salaries report also documented the national turnover rates on a yearly basis. In just one year, hierarchy changed frequently and replacement of employees became a norm. While not many positions were changed, the top-level executives’ rate was at a staggering 17.62% in 2017.
The collection of nursing home administrator salaries data for this survey was from 1,970 care facilities that have been operating for a long time. Near 80% of these facilities were operating for-profit and more than 20% facilities were operating on non-profit. Around 175,600 employees took part in the survey, which allowed the Hospital and Healthcare Compensation Service to publish its 14th edition.