The Chronicle of Higher Education reports on the salaries of America’s university presidents:
The highest-paid public-college executives, who receive compensation packages in the high six figures and more, walk a difficult political tightrope. They must at once argue that their state budgets have been cut to the bone and need to be restored, while at the same time acknowledging their rarefied personal financial circumstances in states where layoffs, program closures, and pay reductions have been all too common. …
The median total compensation for college presidents in 2009-10 was $375,442, and the median total cost of employment was $440,487. On both measures, E. Gordon Gee, president of Ohio State University, topped the list, earning more than $1.3-million in total compensation. His total cost of employment was more than $1.8-million.
Certainly, these are some massive paychecks, and they may not be justified (especially given the other sources of income available to university presidents). But it’s important to remember that they don’t exactly break the bank. Each university has only one lucratively-compensated president. The unbearable cost of higher education to taxpayers, students, etc., is due to the fact that each university also employs hundreds of highly-paid administrators.
Still, it may be ridiculous at this point to think of university presidents as anything other than CEOs of major corporations–and ones on the public dole, at that.
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