Executives of Multi-Site Operators Saw Nearly 3.7% Pay Bump in 2023

A recent study found that executives of senior housing companies with multiple sites saw a slight increase in their pay in 2023 compared to the previous year. The 2023-2024 Multi-Facility Corporate Compensation Report from Hospital & Healthcare Compensation Service (HCS) revealed that executives of multi-site senior housing companies earned 3.69% more in annual salary. The report, which collected data from 88 multi-site senior housing companies, also indicated that factors such as performance, cost of living increases, length of service, and profit drove the salary increases. Additionally, the study found that executives of multi-site companies with different revenue levels earned varying average total compensation, ranging from $169,898 to $329,879. The report also highlighted that all surveyed executives were enrolled in 401(k) plans, with an average maximum contribution of 4.72%.