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
Earnings: Figuring Total Value
The job offering the highest salary may not represent
your best deal, says Paul L. Dyer, in his excellent book
Ultimate Job Search Survival Guide," (Peterson, 1998). The
of our annual salary survey — this year focussed on executives
with publicly accountable companies and institutions — is an
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
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
of money you need, your "gotta have" figure, the amount you
are used to receiving, and come up with a "dream figure."
Find out the job’s real market value, as determined by the personnel
salary during the hiring process" unless, of course, a recruiter
calls to entice you into leaving your current position. "Try not
to discuss salary before the interviewer offers you the job."
of the job’s accountabilities, scope, and responsibilities; the
culture, and any other factors that are important to you.
for some time to evaluate the offer. Asking for an immediate decision
is unreasonable and shows a lack of understanding about human nature
and common courtesy. This is the romance stage. If they treat you
like this now, it’s only going to get worse after employment."
job offer evaluation matrix that factors in life’s purpose, career
objectives, treasure-yielding skills, accomplishment skills, personal
and work values, lifestyle issues (such as travel, location, commute),
and company culture.
market salary standards, your vocational identity, your family’s
and your hopes and dreams, you determine that the job offer is
— take it. Don’t go back and ask for a little bit more. Just thank
God, show your appreciation, and take it. If you go back for more,
when in fact you’re already very satisfied, you’re negotiating from
a win/lose rather than win/win perspective."
feels wrong, one or more of the job’s aspects are exactly what
you 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 make
up for an organizational culture that you really dislike.
with how-to information about today’s jobs, jobs for the future,
opportunities, and salary trends.
surveys and professional-specific salary surveys. Updated regularly,
the site is http://www.jobsmart.org/tools/salary/sal-surv.htm).
career advice articles at
For some executives a salary can seem like an
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 million
shares 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,
president, and CEO of the Journal Register Co., the newspaper chain
based on West State Street in Trenton, was paid $5,685,428 in common
stock and $4,651,714 in cash, according to the Journal Register’s
1997 proxy statement filed with the Securities and Exchange
And Jelenic’s colleagues in the Journal Register executive suite also
received huge bonuses, for what must have been a superlative year
at the company.
But for the rest of us, salaries have been growing at a more relaxed
"The market has become tighter over the last year than previous
years and as a result we’re seeing some greater increase of salaries
than in the past, but not a lot more," says John Sturges, managing
principal of Siebrand-Wilton Associates’ benefits and compensation
design group, based in Marlboro. "For instance I would expect
over 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 increases
in information technology can be as high as 10 to 12 percent.
Sturges also notes that, unlike previous years, very few
remuneration practices are being hyped. "We don’t see a lot of
non-traditional programs beginning," he says. Maybe that’s because
employers have found already-invented non-traditional programs
One of them, "broadbanding," is getting more and more popular
with large companies. Broadbanding refers to grouping several tiers
of salaries together in one range. This gives employees more room
for salary growth without having to be promoted, and gives companies
the opportunity to move employees laterally with fewer restrictions.
One trend is the practice of opening up stock options to more classes
of employees. "We’re seeing managers having opportunities for
stock options, and we’re even seeing some cases below the managerial
level," he says. And with the market correction lowering the price
of many stocks, it’s a relatively good time to get in, Sturges
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 hires
and those sign on bonuses are occurring at all levels."
One group that’s not experiencing very large pay increases are
employees. "They’re certainly not market leaders with salary,"
says Joan Kaspin Ph.D., president of Compensation Connections, a
firm based in Hightstown that specializes in nonprofit remuneration
programs. "They tend to focus not so much on direct salary but
on what other things they can offer employees such as flexible working
hours. People who work in nonprofits at all levels do so because they
believe in the mission and they want to be part of making that happen
rather than because of the salary."
Charles A. Heimbold Jr., chairman and CEO, Bristol-Myers
Squibb. $1,221,000, plus $1,581,635 bonus.
Robert M. Jelenic, chairman, president, CEO, Journal
Register Co. $825,000, plus $10,497,142 bonus, and $431,137
T. Joseph Semrod, chairman, CEO, Summit Bancorp.
plus $1,094,013 bonus, $3,330 stock dividends.
K. E. Weg, executive vice president and president,
medicines group, Bristol-Myers Squibb. $680,000, plus $513,944
bonus 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-Myers
Squibb. $564,250, plus $362,944 bonus.
P. S. Ringrose, Ph.D, president, pharmaceutical research
institute, Bristol-Myers Squibb. $519,000, plus $315,162 bonus
and $3,771,250 stock award.
Robert G. Cox, president, Summit Bancorp.
plus $679,225 bonus and $2,935 stock dividends.
J. L. McGoldrick, senior vice president, law and
planning, general counsel, Bristol-Myers Squibb. $511,750, plus
David C. McCourt, Chairman of the Board and CEO, RCN
Corp. $500,000, plus $1.4 million bonus and $380,000 stock
Hiromasa Yokoi, vice chairman of the board, CEO,
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 tax
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, Opinion
Research 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 other
John R. Howell, board vice chairman; chairman and CEO
of First Valley and FVBank, Summit Bancorp. $345,000, plus
Harold T. Shapiro, president, Princeton University.
Kim D. Lamon, corporate senior vice president and
Covance Clinical and Periapproval Services Inc. and Covance
Services Inc., Covance Inc. $340,000, plus $149,600 bonus and
$26,544 tax reimbursement.
William P. Moffitt, president and CEO, i-STAT
$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 Lifesciences
Corporation. 1998 project $300,000, hired in December 1997.
Thomas J. McKearn, president, CEO, Cytogen.
Stephen H. Paneyko, senior executive vice president,
commercial banking, Summit Bancorp. $293,500, plus $203,409
William J. Rush, company vice president, and publisher
and CEO, New Haven Register, Journal Register Co. $275,000,
plus $1,189,676 bonus, and $34,293 payout.
Allen J. Mailman, vice president technology, Journal
Register Co. $185,000, plus $1,174,676 bonus, and $64,091
Trish K. Dresser, vice president marketing and
Journal Register Co. $170,000, plus $1,174,676 bonus, and
Andrew K. Golden, president, Princeton University
Company, Princeton University. $271,250.
Jeremiah Ostriker, provost, Princeton University.
Paul J. Schmitt, chairman, president and CEO, Chrysalis
(DNX Transgenics). $260,000, plus $19,250 bonus.
John F. Short, vice chairman and CFO, Opinion Research
Corporation. $260,000, plus $116,000 bonus.
James D. Utterback, corporate senior vice president
and group president, Global Ventures, Covance Inc. $258,000,
plus $113,520 bonus and $21,352 tax reimbursement.
Michael G. Wokasch, corporate senior vice president
and group president, laboratory services, Covance Inc. $255,000,
plus $106,480 bonus.
James A. Boyle, senior vice president, medical and
afffairs, The Liposome Company. $252,253, plus $12,500 bonus,
$12,500 stock award.
Manuel Fernandez, executive vice president, COO
language 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.
plus $500,000 bonus and $149,731 stock award.
Jack Barbut, vice chairman, president, Chrysalis
Services, Chrysalis (DNX Transgenics). $247,520.
Richard J. Andrews, corporate senior vice president
and 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 president
Pharmacopeia. $234,167, plus $60,000 bonus.
Clifford W. Stanley, president, CEO, Guest Supply Inc.
Susumu Kojima, executive vice president, Asia division,
Berlitz International Inc. $229,500, plus $8,700 bonus and
Nolan H. Sigal, senior vice president of Drug Discovery,
Pharmacopeia. $223,667, plus $40,000 bonus.
Henry D. James, executive vice president and CFO,
International Inc. $218,335, plus $75,300 bonus and $826 other
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.
Richard R. Spies, vice president for finance &
Princeton University. $206,525.
Graham May, vice president medical affairs, Cytogen.
$206,446, plus $31,100 bonus.
Mark Haverkate, executive vice president, business
RCN Corp. $205,192, plus $100,000 bonus and $61,038 stock award.
Michael A. Adams, president, technology and network
development, RCN Corp. $203,269, plus $150,000 bonus and $70,654
John D. Rodwell, senior vice president and chief
officer, Cytogen. $202,999, plus $22,800 bonus.
Frederick M. Miesowicz, vice president, Cytogen.
plus $20,400 bonus.
Lewis L. Shuster, executive vice president, corporate
development, CFO, Pharmacopeia. $199,008, plus $50,000 bonus.
Michael D. Pierschbacher, PhD, senior vice president
research and develpment, Integra Lifesciences Corporation.
Wendell T. Breithaupt, president, CEO, People’s Bancorp
(Trenton Savings Bank). $196,796, plus $50,000 bonus.
Ira H. Fuchs, vice president for computing and
technologies, Princeton University. $196,163.
Ralph del Campo, vice president, manufacturing
The Liposome Company. $193,889, plus $11,00 bonus, $11,000 stock
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 of
international operations/business development, Church & Dwight.
plus $102,050 and $10,948.
Andrew S. Janoff PhD, vice president, R&D, the Liposome
Company. $186,923, plus $11,000 bonus, $11,000 stock award.
Richard J. Walsh, vice president marketing and corporate
development, 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 & Hammer
Division, Church & Dwight. $181,458, plus $100,000 bonus and
$260 other compensation.
Brian A. Hoerl, CEO and president, Ariel.
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, specialty
division, Church & Dwight. $178,417, plus $135,000 bonus.
Michael Zelin, vice president systems development,
Corporation. $178,000, plus $24,297 bonus.
Van Zandt Williams, vice president, development,
Hugh F. Tucker, vice president-sales & marketing,
$174,050, plus $82,000 bonus and $7,430 other compensation.
Steven J. Ott, vice president, sales, Voxware.
plus $20,000 bonus.
Leif Modeweg, president, Chrysalis Preclinical Services,
vice president, Chrysalis (DNX Transgenics). $155,953, plus
R. Eugene Biber, vice president, operations, Guest
George W. McKinney III, Ph.D, executive vice president
and COO, Integra Lifesciences Corporation. $165,807.
Raymond J. Clark, treasurer, Princeton University.
Richard E. Caruso, chairman, Integra Lifesciences
Teri E. Unsworth, vice president, market development,
Guest Supply Inc. $162,989.
Patricia A. Hennessey, vice president sales and
i-STAT Corporation. $161,000, plus $19,925 bonus.
Howard S. Ende, general counsel, Princeton University.
J. Christian Jensen, president, international services,
Chrysalis (DNX Transgenics). $160,850.
Sheldon Landy, vice president, president of Railpool
division, Interpool, Inc. $160,000, plus $40,000 bonus.
Eugene J. McPartland, vice president, facilities,
James T. Heisler, executive vice president, Opinion
Research Corporation. $155,577, plus $150,000 bonus.
John G. Cooper, senior vice president, CCFO, treasurer,
secretary, Chrysalis (DNX Transgenics). $155,000, plus $10,870
James C. Fink, executive vice president, Opinion
Corporation. $155,000, plus $45,000 bonus.
Charles G. Marianik, chairman of the board, CEO, Photon
Technology International (PTI). $154,961, plus $38,666 other
Jeffrey H. Duncan, vice president of manufacturing and
engineering, Dataram. $154,050, plus $58,000 bonus and $8,700
John Morton, senior vice president, Strategic Marketing
Services, Total Research. $152,987, plus $1,051 bonus.
David Vilkomerson, executive vice president, EchoCath
Inc. $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, Palatin
Charles L. Putnam, executive vice president, Palatin
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 and
Chief Financial Officer, Congoleum. $148,393, plus $30,000
Robert N. Agate, Senior Vice President-Manufacturing,
Congoleum. $148,074, plus $30,000 bonus.
Robert K. Durkee, vice president, public affairs,
Gerard Dorsey, CFO and senior vice president, Ariel.
$146,538, plus $24,461 other compensation.
Joan Doig, vice president, human resources, Princeton
Dennis P. Jarosz, Senior Vice President – Marketing,
Congoleum. $142,966, plus $30,000 bonus.
David N. Enegess, vice president of marketing,
development, Envirogen Inc. $142,000.
Anthony C. Prestipino, senior vice president —
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’s
Bancorp (Trenton Savings Bank). $140,000, plus $10,273 bonus.
Deborah T. Poritz, Chief Justice, State of New Jersey.
George A. Pruitt, president, Thomas Edison State
Harold W. Eickhoff, president, College of New Jersey.
Edward Gross, executive director, New Jersey Turnpike
Craig E. Ebner, president, CEO, Fifth Dimension Inc.
Paul T. Xenis, vice president, finance, Guest Supply
Andre P. Decarie, senior vice president, business
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 austerity
William C. Smith, CEO, Envirogen Inc. $129,545,
since October 20, 1997.
Noah J. Kroloff, vice president business development
and strategy, i-STAT Corporation. $147,500, plus $18,255 bonus.
William Van Zandt, executive vice president, global
health care, Total Research. $125,000, plus $83,302 bonus.
Peter E. Nangeroni, vice president of remediation and
consulting, Envirogen Inc. $120,000.
Y. Joseph Mo, chairman, president, CEO, NexMed Inc.
Frank Sannella Jr., president and CEO, Trenton Savings
Bank, People’s Bancorp (Trenton Savings Bank). $120,000, plus
John T. Rich, vice president finance & administration,
secretary, treasurer, Escalon Medical Corp. $119,000, plus
Sterling C. Johnson, former president, CEO, COO, Escalon
Medical 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 of
and petro-chemical sales, Envirogen Inc. $110,000, plus $2,000
Nicholas Narlis, vice president, chief accounting
and treasurer, Voxware. $106,667, plus $20,000 bonus.
Ronald J. Kovach, senior vice president, corporate
Photon Technology International (PTI). $105,863, plus $6,016
Daniel M. Mulvena, chairman of the board, EchoCath Inc.
Douglas W. Jacobson, senior vice president of marketing,
Envirogen Inc. $100,758.
John J. Haley Jr., Commission of Transportation, State
of New Jersey. $100,225.
Gualberto Medina, Commissioner of Commerce and Economic
Development, State of New Jersey. $100,225.
Elizabeth E. Randall, Commissioner of Banking and
State of New Jersey. $100,225.
Mark A. Wolters, executive vice president, Carnegie
Bancorp. $100,000, plus $57,711 bonus and $14,420 other
James L. Yeager, vice president business development,
NexMed Inc. $100,000.
J. Gerard Aguilar, vice president, R&D, Voxware.
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,
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, Carnegie
Bank. $85,000, plus $20,199 bonus and $5,000 other compensation.
Richard J. DePiano, chairman and CEO, Escalon Medical
Corp. $73,846, since March 1, 1997.
Ronald L. Hueneke, vice president and general manager,
Trek division, Escalon Medical Corp. $105,000, plus $14,500
Henry W. Wierzbicki, executive director, Capital City
Redevelopment Corporation. $72,500.
William D. Looney, vice president, controller, Photon
Technology. $58,665, through January 1997, plus $3,138 other
James A. Ditanna, vice president, NexMed Inc.
plus $12,000 in consulting fees.
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