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TUESDAY, NOVEMBER 24, 2009
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College Bosses Earn Record $1M+ Pay

Despite recession, school leaders' pay grows—with tuition

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(Newser) – Lean times can go to the back of the class when it comes to college presidents. A record 23 of them raked in more than $1 million last year, up from nine in 2007. Not so surprisingly, many of presidents reigned at institutions among the 58 which charged more than $50,000 in tuition and fees last year, up from just five the year before, AP reports.

Here's what the highest paid college and university presidents collect:

  1. Shirley Ann Jackson, Rensselaer Polytechnic Institute: $1,598,247.
  2. David Sargent, Suffolk University: $1,496,593.
  3. Steadman Upham, University of Tulsa: $1,485,275.
  4. Cornelius M. Kerwin, American University: $1,419,339.
  5. Lee C. Bollinger, Columbia: $1,380,035.
Click the link for the complete list.

A record 23 private college presidents took home over $1 million in 2008.
A record 23 private college presidents took home over $1 million in 2008.   (Shutterstock)
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The baby boomers are retiring. Boards are in a scramble competing against each other for the remaining available talent.
- Ray Cotton, expert on presidential contracts and compensation.

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11 comments
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riffran
Nov 2, 09 3:12 AM CST
damn...I'm in the wrong business Reply
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+1
cochiserocks
Nov 2, 09 4:06 AM CST
If I told you about a system that would cost you a load of money, teach you a bunch of stuff, after which in most cases, you'd need to take a few years to learn what was really going on. You'd probably say there was something wrong with the system. Time for a change. This is becoming yet another gravy train underneath which the system has fundamental flaws and is failing. How about a college dgree that gave you information that was relevant, real world, and appropriate to your generation and the challenges it faced - instead of just propping up the status quo and supplying society with a bunch of confused kids sure of nothing except that earning more money than their neighbour might make them happier than their neighbour. Based on this example, wonder where that example is coming from? Reply
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+2
Netstorm2k9
Nov 2, 09 6:56 AM CST
Nothing new. The rich control the paper mill that makes them richer. By paper I mean degree. Gotta love a society where four years of education prepares you for a job at a telemarketer. Reply
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+1
IN RESPONSE:
DarkFrancis
Nov 2, 09 7:49 AM CST
Or not even that, sometimes. Mind you, college got these people jobs worth $1m per annum.
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+1
IN RESPONSE:
Netstorm2k9
Nov 2, 09 8:00 AM CST
I think it was politics and connections that got them their jobs. However, education is still a good thing; it's just that, in this modern society, knowledge is the domain of those who would know, not those who can pay.
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