Worcester Business Journal

16 Worcester Business Journal | February 18, 2019 | wbjournal.com HEALTH CARE Male (27 people) $532,119 $416,082 Eric Dickson, president, UMass Memorial Health Care $1,834,131 Female (13) $285,477 $288,530 Cheryl Lapriore, senior vice president, chief of staff, chief marketing officer, UMass Memorial Health Care $510,536 The median male makes 44% more. SOCIAL SERVICE NONPROFITS Male (21) $251,084 $181,481 David Jordan, president, Seven Hills Foundation $769,995 Female (13) $159,559 $126,011 Kathryn Hunter, executive director, YMCA of Central Massachusetts $239,048 The media male makes 44% more. HIGHER EDUCATION Male (47) $292,914 $220,238 Michael Collins, chancellor, UMass Medical School $1,069,752 Female (35) $234,521 $173,415 Laurie Leshin, president, Worcester Polytechnic Institute $994,957 The median male makes 27% more. PUBLIC COMPANIES Male (61) $3,084,464 $1,770,371 Stephen MacMillan, president and CEO, Hologic $42,040,142 Female (6) $4,476,262 $3,597,949 Carol Meyrowitz, executive chairman, TJX Cos. $13,355,228 The median female makes 103% more.* The Central Mass. executive pay gap WBJ examined the salaries of 223 full-time executives at prominent healthcare organizations, nonprofits, college and public companies in Central Massachusetts. Sector Average pay Median pay Highest-paid executive Salary *Public company averages are skewed by MacMillan's and Meyrowitz's salaries, as well as by the small number of female executives listed. Without Meyrowitz included, the average female salary for public companies is $2,304,031. Without MacMillan, the average male salary for public companies is $2,435,203. Sources: Respective companies, U.S. Securities & Exchange Commission, Guidestar.org Notes: Hunter has announced her retirement effective May 31. Two Holy Cross executives, President Philip Boroughs and Vice President for Mission William Campbell, are excluded because they do not take a salary. Financial institutions and private companies are excluded because with the exception of Workers Credit Union, they do not report their compensation. F O C U S W O M E N I N L E A D E R S H I P A ny executive looking to make a high salary in Central Massachusetts would need a mix of hard work, intelligence and op- portunity. As it turns out, most of those opportunities have gone to men. Only one of the top 10 highest-paid executives in the region last year was a woman, and only four of the top 40. Male executives don't just make substantially more than their female counter- parts in Central Massachusetts – they nearly double them. As a fol- low-up to e Boardroom Gap series from 2018, WBJ analyzed pay for 229 Central Mass. public company, higher education, healthcare, finance and social service nonprofit executives, finding men made a median of $416,082 com- pared to $220,461 for women. "at's shocking," said Lauren Stiller $416K vs. $220K e gap of pay between Central Mass. male and female executives increased in the last year, as men continue to hold higher-paying positions BY GRANT WELKER Worcester Business Journal News Editor Rikleen, the president of the Rikleen Institute for Strategic Leadership and a former trustee at Clark University in Worcester. For e Boardroom Gap series last year, WBJ's investigation found male executives made an average of $1,313,411 in total compensation vs. $572,709 for wom- en. is year, the averages for both genders increased to $1,391,185 compared to $605,487. For this year's follow-up study, though, WBJ switched to median pay as a way to diminish outliers like the $42 million Hologic CEO Stephen MacMillan and the $13 million TJX Cos. Executive Chairman Carol Meyrowitz made. Rikleen said the gender pay gap typically widens further up the career ladder and as the wide Central Massa- chusetts gap isn't unusual, but "it should always be shocking to see this level of differential." Lower-paying positions anks to a male-dominated upper echelon of pay, the pay gap among men and women in Central Massachu- setts leadership roles remains stark. A gap exists not just in the particularly male-dominated realms of corporate corner offices but in medicine and aca- demia, where women are relatively more evenly represented in number. Among healthcare executives whose pay is disclosed, men made a median of 44 percent more. At nonprofit agencies, the gap was 44 percent. At area colleges, men made 27 percent more. For 229 executives analyzed, median pay for both genders was $321,841. Jean Beaupre, the faculty advisor to the Institute for Women's Leadership at Nichols College in Dudley and the author of the biennial Massachusetts Women's Leadership Index, attributed a few causes to help explain the gap. Women generally find themselves in executive roles in human relations or marketing, which aren't always paid as highly as finance roles, she said. Women sometimes fair negatively in perception when they have children as home – the opposite effect for men. Beaupre holds negotiation workshops for women at Nichols to help overcome another challenge: Women aren't seen in the same positive, assertive light as men are when they ask for a raise. "is starts early in women's careers," Beaupre said, "but in negotiations, men tend to negotiate more than women." TJX Executive Chairman Carol Meyrowitz is the highest-paid female executive in Central Mass. WPI President Laurie Leshin became the highest-paid female college president in Central Massachusetts after her compensation increased from $793,550 to $994,957. The Boardroom Gap FIRST IN A 3-PART SERIES

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