H

ealth care rules the scene in the 2014 Crains list of top 25 New York area
employers.Three of the top 10 are health care systems.The trend is driv-
en in part by an increase in hospital consolidation and suggests that health
care will remain a high-volume employer in the area for years to come.
Health care will add about a third of total jobs in the country during
the 2012-2022 decade, according to the Bureau of Labor Statistics. But in New York,
the volume of hospital-based jobs may fall as more hospitals downsize. Many jobs will
shift to outpatient settings.
Consolidation is common among major health care systems, with last years merg-
er of Mount Sinai Medical Center and Continuum Health Partners the biggest of the
bunch. The new Mount Sinai Health System (No. 9) has approximately 36,000 employ-
eesmaking it the largest nongovernment employer in New York.
A fragmented system is becoming more consolidated through acquisitions and
technology, said Amy Shefrin, program officer at the New York State Health Foun-
dation. By connecting these various providers through electronic records and IT, hos-
pital systems now have visibility into their patients health beyond the hospital walls.
Other recent deals include the acquisition of Lenox Hill Hospital by the North Shore-
LIJ Health System (No. 6), the takeover by New York-Presbyterian Hospital (No. 12) of New
York Downtown Hospital, and Montefiore Health Systems (No. 15) acquisition of hospi-
tals in the Bronx and lower Westchester.
Across the city, hospital groups have started increasing specialization and scale in
one form or another. New York-Presbyterian is expanding and plans to build an am-
bulatory care center at 1283 York Ave. Memorial Sloan-Kettering Cancer Center (No. 20) and
the City University of New York are constructing two medical facilities on the Upper East
Side, including a 750,000-square-foot cancer care facility and a 336,000-square-foot sci-
ence and health professions building. Meanwhile, Montefiore and Simone Development
are building a 280,000-square-foot structure at Hutchinson Metro Center in the Bronx.
Policies and initiatives by the federal government and health insurance companies
are rewarding health care companies that can treat a patient across multiple settings,
whether in the primary care doctors office or in the operating room, said Ms. Shef-
rin. Health care systems are now incentivized to be bigto acquire physician group
practices, bring physician staff in-house, build up outpatient and ambulatory care cen-
ters, and spread themselves beyond the hospital campus.
March 24, 2014 | Crains New York Business | 13
THE
LIST
THE SCOOP
IN TWO WEEKS:
Top-paid hospital
executives and employees
New York Areas Largest Employers
Ranked by number of metropolitan area employees
$20.9B
$12.1B
$22.0B
$13.1B
$22.3B
$14.0B
$22.1B
$14.2B
$21.9B
$15.3B
bilal iftikhar
2008
2009
2010
2011
2012
SALARIES FLAT, BENEFITS UP
Most of the increase in city personnel expenses is in the form of pension and
fringe benefits.
Salaries and wages Pensions and fringe benefits
TRENDS
Source: Mayors Office of Operations and the Department of Citywide Administrative Services via the NYC
Independent Budget Office
Median
FT salary
$61.8K
$62.9K
$66.1K
$65.8K
$65.3K
HEALTH CARES ROBUST JOB MARKET
An expansion of hospitals has meant increased employment.
Average employment
Number of
establishments
84
75
71
71
74
76
2008
2009
2010
2011
2012
2013*
* 2013 data are based on the first three quarters and are preliminary. Source: NYS Department of Labor
161,522
158,329
158,476
154,207
153,513
158,327
NYC JOB GROWTH
Forecast employment
change by select industry,
2013-2017, in thousands
Professional and
business services
+73.4
Education and health
care services
+68.0
Leisure and hospitality
+35.3
Retail trade
+25.2
Construction
+18.1
Source: NYC Independent Budget Office
58%
PORTION OF WORKERS
on Crains list who are
employed in the public
sector
13%
PORTION OF ALL NEW
YORK CITY WORKERS
who are employed in the
public sector
Sources: Crains research, NYS
Department of Labor
Namher of
New York area emp|o,ees
1
Namher of
emp|o,ees compaa,w|de
1
0ompaa,w|de
rereaae (|a m||||oas)
kaak mp|o,er ead of NY area off|ce,phoae,wehs|te 2013 2012 chg. 2013 2012 chg. 2013 2012 chg.
Se|ected sahs|d|ar|es or s,stem
memhers operat|ag |a NY area
1
0|t, of New York
2
City Hall
cw York, Y 10007
8ill dc 8lasio
Mayor
(212) 6399675/www.nyc.gov
151,678 149,765 1.3 151,678 149,765 1.3 871,570.0 867,533.0 6.0
2
New York 0|t, 0epartmeat of
dacat|oa
2
52 Chambcrs St.
cw York, Y 10007
Carmcn Farina
Chanccllor
(212) 6399675/schools.nyc.gov
119,618 118,716 0.8 119,618 118,716 0.8 - - -
`
ua|ted States 0orerameat
26 Fcdcral Plaza
cw York, Y 10278
8arack H. Obama
Prcsidcnt
(800) 3334636/www.usa.gov
80,900
3
81,700
3
1.0 2,741,000 2,812,000 2.5 - - -
4
State of New York
4
Y Statc Capitol 8uilding
Albany, Y 12224
Andrcw M. Cuomo
Govcrnor
(518) 4748390/www.ny.gov
69,926 70,173 0.4 179,430 179,838 0.2 8133,174.0 8132,745.0 0.3
5
Netropo||taa Iraasportat|oa
Aathor|t,
347 Madison Avc.
cw York, Y 10017
Jay H. Valdcr
Chairman, chicl cxccutivc
(212) 8787000/www.mta.inlo
67,381 65,489 2.9 67,381 65,489 2.9 87,892.0 87,134.0 10.6 YC Transit Authority, L!RR, Mctro
orth Commutcr Railroad, Triborough
8ridgc and Tunncl Authority
6
North Shore-loag Is|aad Iew|sh
ea|th S,stem
145 Community rivc
Grcat cck, Y 11021
Michacl J. owling
Prcsidcnt, chicl cxccutivc
(516) 4658100/www.northshorclij.com
48,650 46,840 3.9 48,650 46,840 3.9 86,989.6
5
86,606.8 5.8 L!J Mcdical Ccntcr, Lcnox Hill Hospital,
Statcn !sland Univcrsity Hospital, Forcst
Hills Hospital
7
IPNorgaa 0hase & 0o.
270 Park Avc.
cw York, Y 10017
Jamcs imon
Chairman, chicl cxccutivc
(212) 2706000/www.jpmorganchasc.com
37,363 - - 260,000 260,000 0.0 817,900.0
6
821,300.0
6
16.0 JPMorgan Chasc 8ank, JPMorgan
Sccuritics, JPMorgan Partncrs, Onc quity
Partncrs
S
New York 0|t, ea|th aad osp|ta|s
0orp.
7
125 Vorth St.
cw York, Y 10013
Alan . Avilcs
Prcsidcnt, chicl cxccutivc
(212) 7883339/www.nyc.gov/hhc
35,044 35,300 0.7 35,044 35,300 0.7 86,700.0 87,100.0 5.6 Kings County Hospital Ccntcr, 8cllcvuc
Hospital Ccntcr, lmhurst Hospital Ccntcr,
Jacobi Mcdical Ccntcr
8
0
Noaat S|aa| ea|th S,stem
1 Gustavc L. Lcvy Placc
cw York, Y 10029
Kcnncth L. avis, M..
Chicl cxccutivc, prcsidcnt
(212) 2416500/www.mountsinaihcalth.org
32,056 31,619 1.4 32,056 31,619 1.4 86,396.7 86,230.6 2.7 Mount Sinai Hospital, !cahn School ol
Mcdicinc at Mount Sinai, Mount Sinai 8cth
!sracl, Mount Sinai St. Lukc's/Rooscvclt
10
Nac,'s Iac.
9
151 V. 34th St.
cw York, Y 10001
Tcrry J. Lundgrcn
Chairman, prcsidcnt, chicl cxccutivc
(212) 6954400/www.macysinc.com
31,200 30,400 2.6 175,700
10
171,000
10
2.7 827.9 827.7 0.9 Macy's, 8loomingdalc's, macys.com
11
0|t|groap Iac.
399 Park Avc.
cw York, Y 10022
Michacl L. Corbat
Chicl cxccutivc
(212) 5591000/www.citigroup.com
24,991 26,328 5.1 254,230 263,069 3.4 876,400.0 869,100.0 10.6 Citibank, Citi !nstitutional Clicnts Group,
Citi Privatc 8ank
12
New York-Presh,ter|aa osp|ta|
525 . 68th St.
cw York, Y 10065
Stcvcn J. Corwin, M..,chicl cxccutivc
Robcrt . Kclly, prcsidcnt
(212) 7465454/www.nyp.org
21,802 20,478 6.5 21,802 20,478 6.5 84,264.5 83,923.6 8.7 YP/Columbia Univcrsity Mcdical Ccntcr,
YP/Vcill Corncll Mcdical Ccntcr
1`
8aak of Amer|ca
1 8ryant Park
cw York, Y 10036
Jcllrcy 8arkcr
cw York City markct prcsidcnt
(212) 7640694/www.bankolamcrica.com
19,500 - - 242,117 267,190 9.4 889,801.0 884,235.0 6.6 Mcrrill Lynch, U.S. Trust
14
Ver|toa 0ommaa|cat|oas Iac.
140 Vcst St.
cw York, Y 10007
Lowcll C. McAdam
Chairman, chicl cxccutivc
(212) 3951000/www.vcrizon.com
18,650 18,600 0.3 176,800 183,400 3.6 8120,000.0 8116,000.0 3.4 \crizon Virclcss, mpirc City Subway
15
Noatef|ore ea|th S,stem
111 . 210th St.
8ronx, Y 10467
Stcvcn M. Salycr, M..
Prcsidcnt, chicl cxccutivc
(718) 9204321/www.montcliorc.org
18,030 15,103 19.4 18,030 15,103 19.4 83,400.0 83,100.0 9.7 Montcliorc Hospital, Childrcn's Hospital at
Montcliorc, Grccnc Mcdical Arts Pavilion
Continued
Namher of
New York area emp|o,ees
1
Namher of
emp|o,ees compaa,w|de
1
0ompaa,w|de
rereaae (|a m||||oas)
kaak mp|o,er ead of NY area off|ce,phoae,wehs|te 2013 2012 chg. 2013 2012 chg. 2013 2012 chg.
Se|ected sahs|d|ar|es or s,stem
memhers operat|ag |a NY area
14 | Crains New York Business | March 24, 2014
THE LIST New York Areas Largest Employers
16
NYu laagoae Ned|ca| 0eater
11
550 First Avc.
cw York, Y 10016
Robcrt !. Grossman, M..
can, chicl cxccutivc
(212) 2637300/www.mcd.nyu.cdu
17,879 18,022 0.8 17,879 18,022 0.8 83,333.8 83,169.3 5.2 YU Langonc Mcdical Ccntcr, Tisch
Hospital, Hospital lor Joint iscascs
17
New York ua|rers|t,
12
70 Vashington Squarc South
cw York, Y 10012
John . Scxton
Prcsidcnt
(212) 9981212/www.nyu.cdu
16,021 15,581 2.8 16,663 15,982 4.3 86,284.5 85,968.7 5.3
1S
0o|amh|a ua|rers|t,
7
535 V. 116th St.
cw York, Y 10027
Lcc C. 8ollingcr
Prcsidcnt
(212) 8541754/www.columbia.cdu
15,601 15,368 1.5 16,194 15,954 1.5 83.7 83.7 0.7
10
0oaso||dated d|soa Iac.
4 !rving Placc
cw York, Y 10003
John J. McAvoy
Prcsidcnt and chicl cxccutivc
(212) 4604600/www.concdison.com
13,280 13,169 0.8 14,480 14,357 0.9 812,354.0 812,188.0 1.4 Consolidatcd dison Co. ol cw York
20
Nemor|a| S|oaa-ketter|ag 0aacer
0eater
1275 York Avc.
cw York, Y 10065
Craig 8. Thompson, M..
Prcsidcnt, chicl cxccutivc
(212) 6392000/www.mskcc.org
12,662 12,097 4.7 12,960 12,376 4.7 83,025.5 82,788.7 8.5
21
Norgaa Staa|e,
13
1585 8roadway
cw York, Y 10036
Jamcs P. Gorman
Chairman, chicl cxccutivc
(212) 7614000/www.morganstanlcy.com
12,500
14
- - 61,900 - - 832,417.0
6
826,102.0
6
24.2
22
8NY Ne||oa
1 Vall St.
cw York, Y 10286
Gcrald L. Hasscl
Chairman, chicl cxccutivc
(212) 4951784/www.bnymcllon.com
9,500
15
10,700
15
11.2 52,000 50,000 4.0 814,983.0 814,555.0 2.9
2`
Amer|caa A|r||aes
2 Park Avc.
cw York, Y 10016
oug Parkcr
Chicl cxccutivc
(800) 4337300/www.aa.com
9,280 8,950 3.7 100,000 88,000 13.6 825,760.0 824,825.0 3.8
24
ked App|e 0roap Iac.
823 11th Avc.
cw York, Y 10019
John A. Catsimatidis
Chairman, prcsidcnt, chicl cxccutivc
(212) 9565803/www.gristcdcs.com
8,500 8,000 6.3 8,500 8,000 6.3 85,000.0 84,400.0 13.6
25
ua|ted Parce| Serr|ce Iac.
643 V. 43rd St.
cw York, Y 10036
Mark Kcmpcr
Prcsidcnt, orth Atlantic district
(800) 7425877/www.ups.com
8,145 8,109 0.4 397,100 395,001 0.5 846,500.0 854,127.0 14.1
New York area includcs cw York City and assau, Sullolk and Vcstchcstcr countics in cw York, and 8crgcn, sscx, Hudson and Union countics in cw Jcrscy. Crains Ne. York Business uscs stall rcscarch, cxtcnsivc survcys and thc most currcnt rclcrcnccs availablc to producc
its lists, but thcrc is no guarantcc that thcsc listings arc complctc. To qualily lor this list, an organization must havc an ollicc or othcr lacility in thc cw York arca. !nlormation was supplicd by thc organizations, cxccpt whcrc notcd. Rcvcnuc ligurcs arc lor thc calcndar ycar,
cxccpt whcrc notcd. 1Fulltimc and lulltimc cquivalcnt, as ol cc. 31, cxccpt whcrc notcd. 2All ligurcs arc lor thc ycar cndcd Junc 30. 3!ncludcs thc livc boroughs as wcll as assau, Putnam, Rockland, Sullolk and Vcstchcstcr countics in cw York, and 8crgcn, Hudson
and Passaic countics in cw Jcrscy. 4Fiscal ycar cnds March 31. 5Unauditcd ligurc. 6ct rcvcnuc. 7Fiscal ycar cnds Junc 30. 8Thc lour largcst hospitals in thc systcm, rankcd by bcd count. 9Fiscal ycar cnds Fcb. 1. 10!ncludcs somc parttimc cmployccs. Macy's docs
not brcak out lulltimc and lulltimccquivalcnt hcad count. 11Fiscal ycar cnds Aug. 31. mploycc ligurcs includc cmployccs within YU School ol Mcdicinc and thc thrcc hospitals ol YU Hospitals Ccntcr. 12Fiscal ycar cnds Aug. 31. 13Crains cstimatc. 14YC
cmployccs. 15!ncludcs cw Jcrscy and Connccticut. Rcscarch: Suzannc Panara, Malik Singlcton, icholas Vclls and Crains Ne. York Business stall
FOR ANY CRAIN LIST GO TO WWW.CRAINSNEWYORK.COM/LIST