Corrections or additions?
These articles and salary information collected by Peter J. Mladineo
were published in U.S. 1 Newspaper on September 23, 1998. All rights
reserved.
Earnings: Figuring Total Value
The job offering the highest salary may not represent
your best deal, says Paul L. Dyer, in his excellent book
“The
Ultimate Job Search Survival Guide,” (Peterson, 1998). The
occasion
of our annual salary survey — this year focussed on executives
with publicly accountable companies and institutions — is an
appropriate
time to share some of Dyer’s advice.
As you read the survey below some salaries, and especially some hefty
1997 bonuses, may make dollar signs dance in your eyes. But Dyer
implores
job candidates to keep searching for career treasure; money isn’t
everything. Dyer offers a seven-step career negotiation process, based
on the work of Roger Fisher and William Ury of the Harvard Negotiation
Project:
1. Get the financial facts. Calculate the minimum amountof money you need, your “gotta have” figure, the amount youare used to receiving, and come up with a “dream figure.”Find out the job’s real market value, as determined by the personneldepartment.2. Secure the offer. “Never be the first one tomentionsalary during the hiring process” unless, of course, a recruitercalls to entice you into leaving your current position. “Try notto discuss salary before the interviewer offers you the job.”3. Clearly understand the job. Have an exact understandingof the job’s accountabilities, scope, and responsibilities; thecompany’sculture, and any other factors that are important to you.4. Respond to the initial offer. “It’s best to askfor some time to evaluate the offer. Asking for an immediate decisionis unreasonable and shows a lack of understanding about human natureand common courtesy. This is the romance stage. If they treat youlike this now, it’s only going to get worse after employment.”5. Determine the offer’s total value. Dyer provides ajob offer evaluation matrix that factors in life’s purpose, careerobjectives, treasure-yielding skills, accomplishment skills, personaland work values, lifestyle issues (such as travel, location, commute),and company culture.6. Negotiate. But, “if after careful evaluationagainstmarket salary standards, your vocational identity, your family’sneeds,and your hopes and dreams, you determine that the job offer isideal– take it. Don’t go back and ask for a little bit more. Just thankGod, show your appreciation, and take it. If you go back for more,when in fact you’re already very satisfied, you’re negotiating froma win/lose rather than win/win perspective.”7. Reject or accept the offer. “Usually when an offerfeels wrong, one or more of the job’s aspects are exactly whatyou wanted, perhaps even dreamed. As many an unhappy worker has found,great parts of the job will not always make the awful parts go away.For example, a great salary or a wonderful location will not makeup for an organizational culture that you really dislike.Dyers suggests nine sources for gathering salary information:Bureau of Labor Statistics — Occupational Handbook.Occupational Outlook Quarterly, published four timesannuallywith how-to information about today’s jobs, jobs for the future,trainingopportunities, and salary trends.Trade journals that have names and telephones ofassociationpresidents.Recruiters and headhunters.National Business Employment Weekly.Your network: the contacts you made during advice andinformation meetings.DataMasters 1997 Salary Survey: for computer industrysalaries, https://www.datamasters.com/dm/survey.html.Job Smart, with more than 150 salary surveys from generalsurveys and professional-specific salary surveys. Updated regularly,the site is https://www.jobsmart.org/tools/salary/sal-surv.htm).Pencom Career Center, an interactive salary guide withcareer advice articles athttps://www.pencomsi.com/java_career.html.Top Of PageSalary ScorecardFor some executives a salary can seem like anafterthought.Bill Gates pulls in a measly $349,992 a year, with a $241,360 bonus.The bulk of his billions comes from the hundred-something millionshares of Microsoft stock he owns.In the case of Robert Jelenic, a relatively paltry 1997 salary of$825,000 was supplemented by a bonus of $10 million. Jelenic,chairman,president, and CEO of the Journal Register Co., the newspaper chainbased on West State Street in Trenton, was paid $5,685,428 in commonstock and $4,651,714 in cash, according to the Journal Register’s1997 proxy statement filed with the Securities and ExchangeCommission.And Jelenic’s colleagues in the Journal Register executive suite alsoreceived huge bonuses, for what must have been a superlative yearat the company.But for the rest of us, salaries have been growing at a more relaxedclip.”The market has become tighter over the last year than previousyears and as a result we’re seeing some greater increase of salariesthan in the past, but not a lot more,” says John Sturges, managingprincipal of Siebrand-Wilton Associates’ benefits and compensationdesign group, based in Marlboro. “For instance I would expectover the next year salaries to increase between 4.7 and 5 percent,and last year they had probably increased 4.2 percent.This isn’t a consistent percentage either, he reports. Pay increasesin information technology can be as high as 10 to 12 percent.Sturges also notes that, unlike previous years, very few”innovative”remuneration practices are being hyped. “We don’t see a lot ofnon-traditional programs beginning,” he says. Maybe that’s becauseemployers have found already-invented non-traditional programssuitable.One of them, “broadbanding,” is getting more and more popularwith large companies. Broadbanding refers to grouping several tiersof salaries together in one range. This gives employees more roomfor salary growth without having to be promoted, and gives companiesthe opportunity to move employees laterally with fewer restrictions.One trend is the practice of opening up stock options to more classesof employees. “We’re seeing managers having opportunities forstock options, and we’re even seeing some cases below the manageriallevel,” he says. And with the market correction lowering the priceof many stocks, it’s a relatively good time to get in, Sturgesreports.Another trend — sign-on bonuses — is becoming a mainstay,says Dan Kowalski, managing partner of Right Management Consultants.”We are seeing a lot more sign on bonuses occurring with new hiresand those sign on bonuses are occurring at all levels.”One group that’s not experiencing very large pay increases arenonprofitemployees. “They’re certainly not market leaders with salary,”says Joan Kaspin Ph.D., president of Compensation Connections, aconsultingfirm based in Hightstown that specializes in nonprofit remunerationprograms. “They tend to focus not so much on direct salary buton what other things they can offer employees such as flexible workinghours. People who work in nonprofits at all levels do so because theybelieve in the mission and they want to be part of making that happenrather than because of the salary.”Top Of Page1997 SalariesCharles A. Heimbold Jr., chairman and CEO, Bristol-MyersSquibb. $1,221,000, plus $1,581,635 bonus.Robert M. Jelenic, chairman, president, CEO, JournalRegister Co. $825,000, plus $10,497,142 bonus, and $431,137payout.T. Joseph Semrod, chairman, CEO, Summit Bancorp.$775,000,plus $1,094,013 bonus, $3,330 stock dividends.K. E. Weg, executive vice president and president,worldwidemedicines group, Bristol-Myers Squibb. $680,000, plus $513,944bonus and $3,813,752 stock award.Martin Tuchman, chairman of the board, CEO, Interpool.$670,047, plus $470,000 bonus and $22,803 other compensation.M. F. Mee, senior vice president and CFO, Bristol-MyersSquibb. $564,250, plus $362,944 bonus.P. S. Ringrose, Ph.D, president, pharmaceutical researchinstitute, Bristol-Myers Squibb. $519,000, plus $315,162 bonusand $3,771,250 stock award.Robert G. Cox, president, Summit Bancorp.$517,000,plus $679,225 bonus and $2,935 stock dividends.J. L. McGoldrick, senior vice president, law andstrategicplanning, general counsel, Bristol-Myers Squibb. $511,750, plus$328,568 bonus.David C. McCourt, Chairman of the Board and CEO, RCNCorp. $500,000, plus $1.4 million bonus and $380,000 stockaward.Hiromasa Yokoi, vice chairman of the board, CEO,president,Berlitz International Inc. $499,052, plus $202,000 bonus and$65,730 housing allowance.Raoul J. Witteveen, president, CFO, COO, Interpool.$472,224, plus $330,000 bonus and $18,000 other compensation.Christopher A. Kuebler, chairman, president, and CEO,Covance Inc. $450,000, plus $234,000 bonus and $40,619 taxreimbursement.Jean B. Clifton, executive vice president, treasurer,secretary, Journal Register Co. $445,000, plus $5,268,571 bonus,and $190,756 payout.John G. Collins, board vice chairman, Summit Bancorp.$392,500, plus $444,513 bonus, $1,080 stock dividends.Michael R. Cooper, president, chairman, CEO, OpinionResearch Corporation. $390,000, plus $162,500 bonus.Charles A. Baker, chairman, CEO, The Liposome Company.$375,000, plus $40,000 bonus.Joseph A. Mollica, president and CEO, Pharmacopeia.$362,833, plus $140,000 bonus.Robert A. Davies III, CEO, president, Church & Dwight:Arm & Hammer. $350,583, plus $300,000 bonus and $269 othercompensation.John R. Howell, board vice chairman; chairman and CEOof First Valley and FVBank, Summit Bancorp. $345,000, plus$274,875bonus.Harold T. Shapiro, president, Princeton University.$341,850.Kim D. Lamon, corporate senior vice president andpresident,Covance Clinical and Periapproval Services Inc. and CovancePeriapprovalServices Inc., Covance Inc. $340,000, plus $149,600 bonus and$26,544 tax reimbursement.William P. Moffitt, president and CEO, i-STATCorporation.$335,000, plus $52,260 bonus and $432 other compensation.Edward J. Quilty, chairman, president, CEO, director,Palatin Technologies. $301,064.Stuart M. Essig, president and CEO, Integra LifesciencesCorporation. 1998 project $300,000, hired in December 1997.Thomas J. McKearn, president, CEO, Cytogen.$298,012.Stephen H. Paneyko, senior executive vice president,commercial banking, Summit Bancorp. $293,500, plus $203,409bonus.William J. Rush, company vice president, and publisherand CEO, New Haven Register, Journal Register Co. $275,000,plus $1,189,676 bonus, and $34,293 payout.Allen J. Mailman, vice president technology, JournalRegister Co. $185,000, plus $1,174,676 bonus, and $64,091payout.Trish K. Dresser, vice president marketing andpromotion,Journal Register Co. $170,000, plus $1,174,676 bonus, and$34,091payout.Andrew K. Golden, president, Princeton UniversityInvestmentCompany, Princeton University. $271,250.Jeremiah Ostriker, provost, Princeton University.$261,319.Paul J. Schmitt, chairman, president and CEO, Chrysalis(DNX Transgenics). $260,000, plus $19,250 bonus.John F. Short, vice chairman and CFO, Opinion ResearchCorporation. $260,000, plus $116,000 bonus.James D. Utterback, corporate senior vice presidentand group president, Global Ventures, Covance Inc. $258,000,plus $113,520 bonus and $21,352 tax reimbursement.Michael G. Wokasch, corporate senior vice presidentand group president, laboratory services, Covance Inc. $255,000,plus $106,480 bonus.James A. Boyle, senior vice president, medical andregulatoryafffairs, The Liposome Company. $252,253, plus $12,500 bonus,$12,500 stock award.Manuel Fernandez, executive vice president, COOworldwidelanguage instruction, Berlitz International Inc. $251,908, plus$65,000 bonus and $23,671 other compensation.Imants R. Lauks, executive vice president of reseach,chief technology officer, i-STAT Corporation. $250,000, plus$39,000 bonus and $244,150 expatriate program.Robert V. Tarantino, president, CEO, director, Dataram.$249,050, plus $180,000 bonus and $14,400 other compensation.Michael J. Mahoney, president and COO, RCN Corp.$248,654,plus $500,000 bonus and $149,731 stock award.Jack Barbut, vice chairman, president, ChrysalisClinicalServices, Chrysalis (DNX Transgenics). $247,520.Richard J. Andrews, corporate senior vice presidentand president, Covance Central Laboratory Services Inc., Covance Inc.$245,000, plus $107,800 bonus and $3,244 tax reimbursement.Bruce C. Godfrey, EVP and CFO, RCN Corp. $243,077,plus $500,000 bonus and $148,615 stock award.John J. Baldwin, senior vice president of chemistry,Pharmacopeia. $241,083, plus $50,000 bonus.Robert Minsky, vice president, chief operating officer,Berlitz International Inc. $240,000, plus $35,000 bonus and$926 other compensation.Stephen A. Spearman, executive vice presidentoperations,Pharmacopeia. $234,167, plus $60,000 bonus.Clifford W. Stanley, president, CEO, Guest Supply Inc.$233,617.Susumu Kojima, executive vice president, Asia division,Berlitz International Inc. $229,500, plus $8,700 bonus and$65,000housing allowance.Nolan H. Sigal, senior vice president of Drug Discovery,Pharmacopeia. $223,667, plus $40,000 bonus.Henry D. James, executive vice president and CFO,BerlitzInternational Inc. $218,335, plus $75,300 bonus and $826 othercompensation.Zvi Eiref, vice president and CFO, Church & Dwight.$210,333, plus $126,000 bonus and $260 other compensation.Thomas L. Gray Jr., president and CEO, Carnegie Bancorp.$210,000, plus $229,508 bonus plus $20,900 other compensation.Lorin Zissman, CEO, Total Research. $208,455.Francis L. Lawrence, president, Rutgers University.$208,000.Richard R. Spies, vice president for finance &administration,Princeton University. $206,525.Graham May, vice president medical affairs, Cytogen.$206,446, plus $31,100 bonus.Mark Haverkate, executive vice president, businessdevelopment,RCN Corp. $205,192, plus $100,000 bonus and $61,038 stock award.Michael A. Adams, president, technology and networkdevelopment, RCN Corp. $203,269, plus $150,000 bonus and $70,654stock award.John D. Rodwell, senior vice president and chiefscientificofficer, Cytogen. $202,999, plus $22,800 bonus.Frederick M. Miesowicz, vice president, Cytogen.$201,554,plus $20,400 bonus.Lewis L. Shuster, executive vice president, corporatedevelopment, CFO, Pharmacopeia. $199,008, plus $50,000 bonus.Michael D. Pierschbacher, PhD, senior vice presidentresearch and develpment, Integra Lifesciences Corporation.$198,000.Wendell T. Breithaupt, president, CEO, People’s Bancorp(Trenton Savings Bank). $196,796, plus $50,000 bonus.Ira H. Fuchs, vice president for computing andinformationtechnologies, Princeton University. $196,163.Ralph del Campo, vice president, manufacturingoperations,The Liposome Company. $193,889, plus $11,00 bonus, $11,000 stockaward.Anthony M. Agnello, CEO, Ariel. $193,462, plus$18,780 other compensation.Gregory C. Ellis, COO, Opinion Research Corporation.$190,962, plus $100,000 bonus.Dennis M. Moore, vice president, general manager ofinternational operations/business development, Church & Dwight.$189,333,plus $102,050 and $10,948.Andrew S. Janoff PhD, vice president, R&D, the LiposomeCompany. $186,923, plus $11,000 bonus, $11,000 stock award.Richard J. Walsh, vice president marketing and corporatedevelopment, Cytogen. $186,000, plus $27,200 bonus.Donald D. Yarson, vice president, marketing, sales,and business development, the Liposome Company. $181,873, plus$13,750 bonus, $13,650 stock award.Thomas H. Wright Jr., vice president, general counsel,Princeton University. $181,506.James P. Crilly, senior vice president, Arm & HammerDivision, Church & Dwight. $181,458, plus $100,000 bonus and$260 other compensation.Brian A. Hoerl, CEO and president, Ariel.$181,231,plus $47,104 bonus and $20,393 other compensation.Ernst Baenziger, senior vice president, Interpool Ltd,Interpool. $180,446, plus $743,663 sales commissions.Eugene F. Wilcauskas, president and COO, specialtyproductsdivision, Church & Dwight. $178,417, plus $135,000 bonus.Michael Zelin, vice president systems development,i-STATCorporation. $178,000, plus $24,297 bonus.Van Zandt Williams, vice president, development,PrincetonUniversity. $177,989.Hugh F. Tucker, vice president-sales & marketing,Dataram.$174,050, plus $82,000 bonus and $7,430 other compensation.Steven J. Ott, vice president, sales, Voxware.$170,224,plus $20,000 bonus.Leif Modeweg, president, Chrysalis Preclinical Services,vice president, Chrysalis (DNX Transgenics). $155,953, plus$20,084 bonus.R. Eugene Biber, vice president, operations, GuestSupplyInc. $167,168.George W. McKinney III, Ph.D, executive vice presidentand COO, Integra Lifesciences Corporation. $165,807.Raymond J. Clark, treasurer, Princeton University.$165,506.Richard E. Caruso, chairman, Integra LifesciencesCorporation.$165,000.Teri E. Unsworth, vice president, market development,Guest Supply Inc. $162,989.Patricia A. Hennessey, vice president sales andmarketing,i-STAT Corporation. $161,000, plus $19,925 bonus.Howard S. Ende, general counsel, Princeton University.$160,863.J. Christian Jensen, president, international services,Chrysalis (DNX Transgenics). $160,850.Sheldon Landy, vice president, president of Railpooldivision, Interpool, Inc. $160,000, plus $40,000 bonus.Eugene J. McPartland, vice president, facilities,PrincetonUniversity. $158,138.James T. Heisler, executive vice president, OpinionResearch Corporation. $155,577, plus $150,000 bonus.John G. Cooper, senior vice president, CCFO, treasurer,secretary, Chrysalis (DNX Transgenics). $155,000, plus $10,870bonus.James C. Fink, executive vice president, OpinionResearchCorporation. $155,000, plus $45,000 bonus.Charles G. Marianik, chairman of the board, CEO, PhotonTechnology International (PTI). $154,961, plus $38,666 othercompensation.Jeffrey H. Duncan, vice president of manufacturing andengineering, Dataram. $154,050, plus $58,000 bonus and $8,700other compensation.John Morton, senior vice president, Strategic MarketingServices, Total Research. $152,987, plus $1,051 bonus.David Vilkomerson, executive vice president, EchoCathInc. $130,000, plus $16,000 bonus.John Lynch, vice president, Ariel. $150,000, plus$13,569 other compensation.Carl Spana Ph.D, executive vice president, PalatinTechnologies.$150,000.Charles L. Putnam, executive vice president, PalatinTechnologies. $150,000.Mark E. Maddocks, vice president-finance, CFO, Dataram.$149,050, plus $56,000 bonus and $4,840 other compensation.Howard N. Feist III, Senior Vice President-Finance andChief Financial Officer, Congoleum. $148,393, plus $30,000bonus.Robert N. Agate, Senior Vice President-Manufacturing,Congoleum. $148,074, plus $30,000 bonus.Robert K. Durkee, vice president, public affairs,PrincetonUniversity. $147,000.Gerard Dorsey, CFO and senior vice president, Ariel.$146,538, plus $24,461 other compensation.Joan Doig, vice president, human resources, PrincetonUniversity. $144,500.Dennis P. Jarosz, Senior Vice President – Marketing,Congoleum. $142,966, plus $30,000 bonus.David N. Enegess, vice president of marketing,commercialdevelopment, Envirogen Inc. $142,000.Anthony C. Prestipino, senior vice president –sales,Congoleum. $141,300, plus $30,000 bonus.Jeffrey Sasmor, vice president, Ariel. $140,539,plus $14,507 other compensation.Leo J. Bellarmino, executive vice president, People’sBancorp (Trenton Savings Bank). $140,000, plus $10,273 bonus.Deborah T. Poritz, Chief Justice, State of New Jersey.$138,000.George A. Pruitt, president, Thomas Edison StateCollege.$137,500.Harold W. Eickhoff, president, College of New Jersey.$137,497.Edward Gross, executive director, New Jersey TurnpikeAuthority. $135,000.Craig E. Ebner, president, CEO, Fifth Dimension Inc.$134,992.Paul T. Xenis, vice president, finance, Guest SupplyInc. $132,163.Andre P. Decarie, senior vice president, businessdevelopment,Integra Lifesciences Corporation. $131,667, plus $10,000 bonus.Roger Thomas, president, Strategic Marketing Services,Total Research. $130,400, plus $21,234 bonus.Frank A. DeBernadis, CEO, EchoCath Inc. $130,000,plus $16,000 bonus.Christine Todd Whitman, Governor, State of New Jersey.$130,000, (Whitman only accepts $85,000 as an austeritymeasure).William C. Smith, CEO, Envirogen Inc. $129,545,since October 20, 1997.Noah J. Kroloff, vice president business developmentand strategy, i-STAT Corporation. $147,500, plus $18,255 bonus.William Van Zandt, executive vice president, globalhealth care, Total Research. $125,000, plus $83,302 bonus.Peter E. Nangeroni, vice president of remediation andconsulting, Envirogen Inc. $120,000.Y. Joseph Mo, chairman, president, CEO, NexMed Inc.$120,000.Frank Sannella Jr., president and CEO, Trenton SavingsBank, People’s Bancorp (Trenton Savings Bank). $120,000, plus$10,273 bonus.John T. Rich, vice president finance & administration,secretary, treasurer, Escalon Medical Corp. $119,000, plus$14,500bonus.Sterling C. Johnson, former president, CEO, COO, EscalonMedical Corp. $118,088.Kenneth H. Traub, executive vice president and CFO,secretary, Voxware. $117,462, plus $25,000 bonus.William J. Guarini, senior vice president ofgovernmentaland petro-chemical sales, Envirogen Inc. $110,000, plus $2,000bonus.Nicholas Narlis, vice president, chief accountingofficer,and treasurer, Voxware. $106,667, plus $20,000 bonus.Ronald J. Kovach, senior vice president, corporatesecretary,Photon Technology International (PTI). $105,863, plus $6,016other compensation.Daniel M. Mulvena, chairman of the board, EchoCath Inc.$103,667.Douglas W. Jacobson, senior vice president of marketing,Envirogen Inc. $100,758.John J. Haley Jr., Commission of Transportation, Stateof New Jersey. $100,225.Gualberto Medina, Commissioner of Commerce and EconomicDevelopment, State of New Jersey. $100,225.Elizabeth E. Randall, Commissioner of Banking andInsurance,State of New Jersey. $100,225.Mark A. Wolters, executive vice president, CarnegieBancorp. $100,000, plus $57,711 bonus and $14,420 othercompensation.James L. Yeager, vice president business development,NexMed Inc. $100,000.J. Gerard Aguilar, vice president, R&D, Voxware.$94,924,plus $30,000 bonus.Richard W. Gross, senior vice president, Interpool,Inc.. $90,000, plus $62,500 bonus.Vivian H. Liu, vice president corporate affairs,secretary,NexMed Inc. $87,333.Bathsheba J. Malsheen Ph.D, president and CEO, Voxware.$86,417, plus $16,000 bonus, effective October 13, 1997.Richard P. Rosa, senior vice president and CFO, CarnegieBank. $85,000, plus $20,199 bonus and $5,000 other compensation.Richard J. DePiano, chairman and CEO, Escalon MedicalCorp. $73,846, since March 1, 1997.Ronald L. Hueneke, vice president and general manager,Trek division, Escalon Medical Corp. $105,000, plus $14,500bonus.Henry W. Wierzbicki, executive director, Capital CityRedevelopment Corporation. $72,500.William D. Looney, vice president, controller, PhotonTechnology. $58,665, through January 1997, plus $3,138 othercompensation.James A. Ditanna, vice president, NexMed Inc.$33,333,plus $12,000 in consulting fees.Previous StoryCorrections or additions?This page is published by PrincetonInfo.com— the web site for U.S. 1 Newspaper in Princeton, New Jersey.
