2021-04-21 OMA Agenda - Board of Trustees

the first year, then 7 x 75 equals 525.

This is too much work for only 25 Editorial Board members. That is why 50 (unpaid) Editorial Board members are recommended, which hopefully can be found within OMA membership.

Recommendation #16. JOMA should pay the Editor-in-Chief and Executive Editor competitive rates.

Rationale: The most expensive journal is a failed journal. As with many ventures, journal launches do not get a second chance to make a first impression. The greatest cost of a new journal will not be monetary expenses. The greatest benefits of a new journal will not be the monetary gains. Without an affiliated journal, a society will be limited in its growth, limited in its reputation, and limited in its scope of influence – thus imposing limitations in the value of the organization to its members. Societies with affiliated journals have enhanced reputation, increased influence, and greater opportunities/value for its members. Given the importance of the journal, and given the substantial work involved in journal start-up, the Editor-in-Chief and Executive Editor should be paid a competitive rate.

Expense

Cost

Rationale and comment

Editor in Chief

Editor pay commonly starts at $70,000 per year, with subsequent incremental increases in pay. Assuming 15 hours per week, this is ~ $90 per hour. Assuming 30 hours per week, this is $45 per hour. This suggested pay is at the very lowest rate of journal medical society journal Editor pay (usually $70,000 - $300,000 per year). Executive Editor pay initially $30,000 per year. Assuming 6 hours per week, this is ~ $96 per hour.

• Paralegal billable hours are $100 – 200 per hour; attorney billable hours are $250 - $400 per hour • Physician expert witness hourly rate is $350 per hour for consult and deposition • Physician expert witness hourly rate is $450 for trial testimony The role of the “Executive Editor” would mainly be to triage submissions and assign submitted manuscripts to Associate Editors. The position of Executive Editor could also represent training to be Editor in Chief, allowing for seamless transition to Editor in Chief upon departure of the current Editor in Chief.

Executive Editor (Associate Editor in Chief)

11