The Chronicle of Higher Education has named the 10 highest paid private college presidents in the state of Massachusetts. Brandeis University’s Jehuda Reinharz, who stepped down from his role as president in 2010, topped the list, with an annual salary of $1, 536,401. Although he’s only the 11th highest paid president on a national level, the first five presidents on the state’s list are currently making over $1-million.
Here’s how the list break downs —
The Chronicle surveyed presidential pay at 482 private colleges, using 2009 federal tax returns. Nationally, Drexel University’s former president Constantine Papadakis took the number one spot, having been paid $4,912,127 during his last year at the Philadelphia Institute. Overall, 36 presidents on the list earned more than $1-million in 2009 which, when stacked next to the average salary of a professor, proves there is a significant pay gap in higher education.
According to the Chronicle, a typical private-college leader made 3.7 times as much as the average full professors on his or her campus in 2009, but six presidents made more than 10 times as much as their faculty colleagues. Compared to last year’s list, the number of college presidents earning at least one million has also increased, with three more having been added to the rankings this year.
It’s no surprise college presidents are currently being criticized at a time when Occupy protests have broken out nationwide, largely on college campuses. With tuition costs swelling and student debt on the rise, these pay rates haven’t been the easiest to swallow.
Should presidents being making this much money?