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The Chronicle of Higher Education released its annual salary survey of the heads of educational institutions and the value of a college education is evidenced in the paychecks being cashed by institutions' presidents. More than a dozen heads of private universities took home more than $1 million during the 2005-06 school year.
According to the New York Post, the dean of higher earning was Donald Ross, who took home $5.7 million--most in deferred compensation after a 34-year tenure--of Boca Raton, FL's Lynn University. NYC-area school heads had to scrape by on more meager compensation packages. No top exec at an area school cracked the top-10 in compensation. NYU president John Sexton just missed making the top-20, coming in at #21 with total compensation of $849,121.
A quick breakdown of total compensations from a few area schools:
- John Sexton, president of NYU: $849,121
- Lee Bollinger, president of Columbia University: $769,725
- Judith Shapiro, president of Barnard College: $396,786
- Richard Joel, president of Yeshiva University: $619,700
- Joseph Polisi, president of the Juilliard School: $617,839
- Sen. Bob Kerrey, president of the New School: $603,267
- Joan Wexler, dean of Brooklyn Law School: $503,896
- Thomas Schutte, president of the Pratt Institute: $499,000
- Matthew Goldstein, head of CUNY: $469,543
- John Ryan, head of SUNY: $357,600
- David Steinberg, president of Long Island University: $532,059
- Philip E. Austin, president of U.Conn: $510,000
- Richard L. McCormick, president of the Rutgers system: $666,999
- Richard Matasar, dean and and president of New York Law School: $430,021
Bringing up the rear in area school heads is Rev. Joseph McShane, president of Fordham University. As a priest leading a Catholic university, he accepted no paycheck, although we're sure the school covers his living expenses.
The AP account of the most recent survey included an interesting note for those interested in the funding of public universities: "Still, not one of the top 10 highest-pay presidents at public universities with Division 1 athletics programs earned as much as their school's football coach." Jocks still rule over nerds apparently.
(Photo of NYU's president, John Sexton)
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The AP account of the most recent survey included an interesting note for those interested in the funding of public universities: "Still, not one of the top 10 highest-pay presidents at public universities with Division 1 athletics programs earned as much as their school's football coach." Jocks still rule over nerds apparently.
The football coaches generate massive revenues, and probably bring the schools more prestige than the presidents.
McShane most certainly gets just as much as these other guys. Jesuits be shady with their money
Judith needs to work on her negotiating skills.
No Iona? Manhattan? St. Peter's? Where's the love for the MAAC?
Judith needs to work on her negotiating skills.
Ms.Shapiro? Ya would think....
tags: rich people?
Hey celticpride... Watch your mouth. I am a current attendee of Fordham and I don't want to hear my school's president bad-mouthed. And, don't you make an offensive statement about Jesuits.
Yeshiva makes $600K+. Wow. For a religious school, I would think the president would make less.
Yeshiva makes $600K+. Wow. For a religious school, I would think the president would make less.
You're really surprised? Why?
Colleges are businesses. Businesses pay top-dollar to CEOs/presidents to run them well and make money.
The religion is just part of the product offering.
As a Fordham grad, I can guarantee you that Fordham's Jesuits do indeed get paid on an equivalent basis to what similarly qualified lay professors get. It has to be that way for Fordham to get state and Federal aid.
However, since the Jesuits all take a vow of poverty, that salary goes to Jesuits of Fordham Inc., (no joke, they are incorporated), which pays for their meals, housing on campus, medical care, etc. Fordham's Jesuits make a point of kicking a big chunk of that money back to the school...last year alone, they donated $1.7 million back to Fordham. Not too shabby, in my opinion.
As a Fordham grad, I can guarantee you that Fordham's Jesuits do indeed get paid on an equivalent basis to what similarly qualified lay professors get. It has to be that way for Fordham to get state and Federal aid.
However, since the Jesuits all take a vow of poverty, that salary goes to Jesuits of Fordham Inc., (no joke, they are incorporated), which pays for their meals, housing on campus, medical care, etc. Fordham's Jesuits make a point of kicking a big chunk of that money back to the school...last year alone, they donated $1.7 million back to Fordham. Not too shabby, in my opinion.