Monday, December 10, 2012
Pay and Perks Creep Up for Private-College Presidents. From the Crampicle.
While this statement is surely sometimes true, it is also true that some of the nation's top-paid presidents continue to receive perks that their corporate counterparts have relinquished under shareholder criticism.
In 2010, 36 private-college presidents earned more than $1-million, according to the most recent federal tax filings. The median compensation was $396,649. That figure represents a 2.8-percent increase over 2009.
The Chronicle's analysis comprises 493 presidents at private colleges with budgets exceeding $50-million.
The highest-paid president in 2010 was J. Robert Kerrey, who earned $3-million as president of the New School. Mr. Kerrey, the former governor and two-term U.S. senator from Nebraska, resigned as the college's president in December 2010. His earnings included a $1.2-million "retention bonus," which New School trustees said they provided to ensure a smooth transition to his successor.