College presidents’ salaries skyrocket

Number of leaders earning more than $1M doubles
Associated Press
May 19, 2014
The number of public college presidents earning over $1 million more than doubled in the 2012-2013 fiscal year from the year before, according to a new survey.

The Chronicle of Higher Education study found nine college presidents earned more than $1 million in total compensation in 2013, compared to just four in 2012.

Public college presidents first exceeded the $1 million total compensation mark in 2004, according to the survey.

Gordon Gee topped the list, earning $6.1 million as the head of Ohio State University. Gee resigned that post last year after making comments about Roman Catholics, the University of Notre Dame and Southeastern Conference schools. He is now president of West Virginia University.

The study took into account base salary, bonuses, retirement, severance and deferred pay — an incentive offered to presidents who stay in their positions for an agreedupon period of time.

Four of the college presidents on the top 10 list have retired. Two others have accepted positions at other universities.

The top earners in the fiscal year 2012-2013 were:

•Gordon Gee, president of the West Virginia University

Gee’s compensation total is based on payments he received at the Ohio State University, from which he resigned in June 2013 after six years as president. Gee earned $6.1 million in 2013, which includes $3.3 million in deferred pay and $1.55 million in retirement and severance pay.

•Bowen Loftin, president of Texas A&M University at College Station

Loftin earned $1.6 million, and resigned from his position in January after three years. He now serves as chancellor of the University of Missouri. Loftin’s $425,000 base salary did not change from 2012 to 2013, however in 2013 Loftin was paid $950,000 in severance and retirement pay.

•Hamid Shirvani, president of North Dakota University system

Shirvani earned about $1.3 million in 2013. He retired in June 2013, after less than a year in his position overseeing the 11-campus system. He was paid $962,095 in severance and retirement pay — more than double his $349,000 base salary.

•Renu Khator, University of Houston main campus

Khator earned about $1.26 million in 2013. She has served in the position since 2008. Almost 45 percent of Khator’s total compensation comes from bonus pay and deferred pay on top of her $700,000 base salary.

•Sally Mason, University of Iowa

Mason earned about $1.14 million in 2013, and has served in her position since 2007. More than half of her total compensation is made up of deferred pay on top of her $493,272 base salary.

•Michael McRobbie, Indiana University at Bloomington

McRobbie earned approximately $1.1 million in 2013, and has served as the university’s president since 2007. McRobbie earned $567,076 in deferred pay, bonuses and other benefits, and $544,848 in base pay.

Comments

downthemiddle

This is all fed by tuition rates which are paid by gov't backed student loans resulting in huge debt at graduation.

Tuition rates are high because the profs are unionized.

Another payoff to unions. It just took a few years to filter up to the college pres.

Darwin's choice

Exactly!

The Bizness

My loan was/is private. I think it has more to do woth todays culture teling kids they have to go to college to be successful.

By the way is a college pres even part of the union?

downthemiddle

Agree with you on the pressure on kids to go to college.... much of it mouthed by the obama... see * below.
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The college pres probably is not in the union... but likely was on the way up.

* The point is that taxpayer money funds student loans, part of which pays prof salaries, which includes union dues deductions.

The union then uses the dues money to pay it's overstuffed officers salaries...

...but it is really a money laundering scheme to fund democrat politicians so they pass laws favorable to unions thus perpetuating the corruption.

The Big Dog's back

dtm, you are so wrong, as usual.

deertracker

Exactly Biz! Why blame Obama? America has been advocating going to school for.......EVER!

Fordman

Which is why I believe you can take college and shove it straight up your wazoo. No education is worth that kind of money and to only be in debt for most of your life afterwards. You will see the fall of higher education soon enough with the lack of trades jobs and nobody with a mechanical bone in them to do the job.

downthemiddle

Agree.. but try to teach a mechanical trade to a kid who believes that a computer can sharpen a pencil and that all answers are in a cellphone.

deertracker

Teach them a trade and they will learn it!

downthemiddle

I hope you're right... great opportunity for a career in a trade.

Maybe 2014 is kind of a doldrum period between pursuing college and a career in the trades. There are more mechanical things than ever and they all need to be repaired. Maybe people are realizing that.

Informed

Since when is ten years most of your life? Most student loans are on a ten-year repayment schedule.

downthemiddle

In thinking about it, we are beginning to see the effects of overpopulation. There are not jobs for the skilled and educated people that we have.

In the 60's the U.S. population was under 200 million... the tax dollars were spent on the space race which was thrilling and spun off such things as the ancestor of the computer that you're reading this on. Today, the population is about 1.6 times as much and tax dollars are spent on crony capitalism and paying ever more millions of totally dependent and unproductive people to procreate more of themselves.

This is as backwards as you can get.

P.S. Just wait for the zillions of illegals to become legal and join the (workforce) (welfare rolls)... pick one.

Will the last person working and paying taxes please work harder.. ?