23 Private College Presidents Made More Than $1 Million
The presidents of the nation’s major private research universities were paid a median compensation of $627,750 in the 2007-8 fiscal year — a 5.5 percent increase from the previous year — according to The Chronicle of Higher Education annual executive compensation survey.
According to the survey, 110 college presidents made more than $500,000. By contrast, in 2002, there were no million-dollar presidents, only four earning more than $800,000, and 27 earning more than $500,000.
Query: Why is university presidents’ pay going up so much?