Executive Compensation at Mass General Brigham (2024)

Mass General Brigham (formerly known as Partners HealthCare) is a non-profit, tax-exempt healthcare provider with 16 member institutions that include hospitals, medical centers, urgent and emergency care facilities, community health centers, physician and rehabilitation networks, a teaching organization, health insurance plan, and more in the Boston area who changed its name to Mass General Brigham (taking the name of two premier hospitals: Massachusetts General and Brigham and Women’s) in November, 2019.

With an estimated 80,000-90,000 employees (including 7,000 physicians and 9,100 registered nurses), Mass General Brigham is the largest private employer and healthcare provider in Massachusetts. The Mass General Brigham healthcare network has dozens of related and affiliated tax-exempt organizations and several taxable as a corporation, partnership, or trust (see Schedule R of the Form 990’s).

This post only addresses the executive compensation reported on the Form 990 (2024) for Mass General Brigham Incorporated, the administrative non-profit (whose revenue derives from related and affiliated organizations for managing the whole network) for the year ending September 30, 2024.  Key information about this entity is summarized as follows:

• Total revenue was $1.9 billion (compared to $2.1 billion in 2023), most of which came from three sources:  related organizations ($486 million), administrative fees ($1.3 billion) – both of which appear to come from organizations within the Mass General Brigham health system; and gains on the sale of assets and investment income ($84 million);
• Expenses totaled $2.1 billion (including $74 million in depreciation), most of which came from 6 categories of expenses:  compensation ($1.1 billion), interest ($229 million), office-related expenses ($254 million), fees for services ($158 million), and grants ($104 million, most of which was awarded to affiliated organizations for support); and
• Net assets are $1.5 billion – compared to a $1.6 billion at the beginning of the year.

Compensation was the largest expense for Mass General Brigham.  9,605 employees (about 10% of the total organization’s employees), received $1.1 billion, which equates to an average compensation of $115,000.  However, only 2,805 employees received more than $100,000 with the 20 most highly compensated employees were reported to be:

• $8,407,816:  Anne Kilbanski, President, CEO, and Director
• $3,536,715:  John R Barker, Former Chief Investment Officer
• $3,210,922:  Ron Walls, COO
• $2,844,616:  Gregg S. Meyer, President, Community Division
• $2,349,621:  Elizabeth L Baldwin, Portfolio Manager
• $2,323,582:  Niyum Gandhi, CFO and Treasurer
• $2,312,996:  Katherine L Kamm, Portfolio Manager
• $1,906,911:  Laura Peabody, Chief Legal Officer and General Counsel
• $1,744,085:  Jane Moran, Chief Information and Digital Officer
• $1,640,117:  O’Neill Britton, Associate COO
• $1,557,478:  Jeff A Weiss, Chief Strategy and Transformation Officer
• $1,494,854:  Thomas Dean Sequist, Chief Medical Officer
• $1,434,000:  Paul Anderson, Chief Academic Officer
• $1,427,319:  Rosemary R Sheehan, Chief HR Officer
• $1,238,835:  Emma Somers-Roy, Chief Investment Officer
• $  988,790:  Yolanda Lorig Colson, PHD Director*
• $  835,047:  Kevin Schlicke, Former Interim Treasurer (4/1/21-5/2/21)
• $  834,937:  James W Noga, Former VP and CIO
• $  783,577:  Zara Cooper,Director*
• $  515,866:  Peter K Markell, Former EVP, CFO and Treasurer
• $  244,693:  Alistair Erskine, Former Chief Digital Health Officer

As illustrated above, the 12 of the 21 (57%) most highly compensated employees are male while 9 of the 21 (43%) are female. The 21 highly compensated employees listed above received $42 million in 2024.

Mass General Brigham paid for health or social club due or initiation fees.

206 independent contractors received more than $100,000 in compensation. The 5 most highly compensated were reported to be: