- NYT’s David Brooks: Obama has ‘manhood problem’ in Middle East
- Ted Cruz thanks Obama for denying visas to terrorists
- Survivors recall chaos, fear in Everest avalanche
- General Mills apologizes for ‘right to sue’ confusion, reverses policy
- Dealer wanted in U.S. for art fraud nabbed in Spain
- Easter morning delivery for space station
- Boxer Rubin ‘Hurricane’ Carter dies at 76
- Probe could complicate Rick Perry’s prospects
- Ukraine, Russia trade blame for eastern shootout
- Obamas head to church on Easter morning
Pay of private college presidents edges up
Compensation for private college presidents has continued to drift upward, while the number crossing the $1 million barrier — a signal of prestige and a magnet for criticism — held steady at 36, according to a new survey.
The latest annual compilation by The Chronicle of Higher Education covers data from 2010, owing to lag time in the release of federal tax information. That year, median compensation for the 494 presidents in the survey — leaders of institutions with budgets of at least $50 million — was $396,649, or 2.8 percent higher than in last year's survey. But median base salary fell slightly, by less than 1 percent.
The highest paid was Bob Kerrey, who was president of the New School in New York until December 2010 before returning to Nebraska, where he made an unsuccessful run to return to the U.S. Senate.Mr. Kerrey's total compensation was more than $3 million. His base salary was a bit more than $600,000, but he also received a $1.2 million retention bonus and more than $620,000 in deferred compensation, as well as housing allowances and other pay and benefits.
It is common for such payments to inflate compensation for presidents in their final year in a position. Three presidents in 2010's top 10 are no longer at those institutions: Mr. Kerrey, David Pollick of Birmingham-Southern College and Steven Sample of the University of Southern California.
The highest-paid in 2010 who remains on the job is Shirley Ann Jackson of Rensselaer Polytechnic Institute in New York, who was No. 2 at $2.34 million, followed by Mr. Pollick, at $2.31 million. The highest base salary belonged to John Sexton of New York University and totaled $1.24 million out of $1.48 million total compensation.
The Chronicle previously had compiled salary data for the presidents of public institutions, which was available for 2011. Those figures showed three public university presidents earned more than $1 million in 2011, led by Gordon Gee of Ohio State with total compensation of slightly less than $2 million.
Then there's the other end of the scale — presidents of roughly two dozen Roman Catholic institutions, including Villanova University, Boston College, Marquette and a number of smaller schools, whose compensation is zero. All are either clergy or members of religious orders.
The Chronicle reports this year that half the institutions that employed the 50 highest-paid college presidents in 2010 used a practice called "grossing up," adding additional cash and benefits to compensation packages to make up for the taxes that recipients pay. The practice has been largely abandoned at publicly traded companies owing to shareholder criticism, but appears alive and well in the nonprofit sector.
TWT Video Picks
Women losing coverage under Obamacare, too
- Former Ranger breaks silence on Pat Tillman death: I may have killed him
- Scalia to students on high taxes: At a certain point, 'perhaps you should revolt'
- Special Forces' suicide rates hit record levels casualties of 'hard combat'
- EXCLUSIVE: FBI blocked in corruption probe involving Sens. Reid, Lee
- Tactical advantage: Russian military shows off impressive new gear
- USAID documents cite Hillary Clinton in chaos of Afghan aid
- Feds approve powdered alcohol; 'Palcohol' available later this year
- U.S. Navy to turn seawater into jet fuel
- Army goes to war with National Guard, seizes Apache attack helicopters
- Yelp.com's ethics questioned
Top 10 handguns in the U.S.