College Pres Pay Tops $1 Million
By Don | November 2, 2009
The recession may have forced students to curtail or change their college plans but it hasn't affected college presidents all that much.
From the Chronicle of Higher Education
Shirley Ann Jackson had big plans when she was hired as president of Rensselaer Polytechnic Institute a decade ago. Shovels hit the ground soon after as part of a wide-ranging strategic plan that she directed. Ms. Jackson's compensation matched her ambition, and just two years into her presidency she was the highest-paid private-college chief.
Now, after a decade on the job, she's back on top again with a pay package of $1,598,247 for the 2007-8 fiscal year, the most recent data available. Throughout her tenure, Ms. Jackson has consistently been among the top earners.
Ms. Jackson joins 22 other private-college presidents with compensation above $1-million, according to an annual survey of the compensation packages of private-college chiefs (a companion survey of public-college presidents will be released in January). A total of 110 presidents of the 419 private colleges included in the analysis reported total compensation of more than $500,000.
The median pay for those reviewed, which was $358,746, increased 6.5 percent from the 2006-7 fiscal year. Presidents at research universities fared even better, with a median of $627,750, an increase of 15.5 percent.
Salary increases have probably leveled off since then, with some presidents even taking pay cuts this year. More college leaders could see their compensation dip next year, according to a recent survey of 259 private colleges by Yaffe & Company, a consulting firm specializing in executive compensation.
Ms. Jackson, for example, took a voluntary pay reduction of 5 percent for the current fiscal year. University officials defend her pay, pointing to the success of her Rensselaer Plan, which included a $1.4-billion fund-raising campaign, more than $690-million in new building and renovation projects on the campus, an influx of star faculty members, and steady improvement in the academic achievements of incoming students.
A former Clinton-administration official, Ms. Jackson, 63, served as chairman of the U.S. Nuclear Regulatory Commission when she was recruited to lead Rensselaer in 1999. A world-renowned physicist, she was the first black female doctoral student to graduate from the Massachusetts Institute of Technology.
Despite her glowing résumé and strong track record, Ms. Jackson's tenure has had its share of controversy.
She serves as a director on six corporate boards, earning at least another $1.3-million annually, according to a Chronicle analysis of corporate filings with the U.S. Securities and Exchange Commission. Critics say her board work takes her away from the campus, but Rensselaer's Board of Trustees sees it as time well spent and key to raising the institution's public profile.
Several faculty members also criticize the university's spending practices and her compensation. And they point to what they call her "top down" system of governance, and a lack of communication between administrators and faculty members.
In 2006, Ms. Jackson narrowly beat a faculty vote of no confidence by just six votes. The faculty-governance system has not included a senate since Ms. Jackson's office suspended it in 2007.
Don Steiner, an emeritus professor who taught at Rensselaer for 27 years, has been an outspoken opponent of the president. He sent facultywide e-mail messages raising questions about the suspension of the faculty senate.
"There is a pretty high level of fear among the faculty that if they speak out there will be retaliation," he says.
Maybe Obama should appoint a college pay czar.
Post #2436
6 Comments | Post a Comment
cynical. Two wrongs ,do not make a right !!! Whatever made you even think. That those American’s on the right, gave approval for President Bush. To move America, away from Americas beloved CONSTITUTION. Hoping for a world government, run by CZARS??? I’m a very strong, on the right person. If you knew me, you would never call me a hypocrite. Here ye, here ye. America needs to UNITE. To protect America’s beloved CONSTITUTION !!! A word to the wise is sufficient.
To protect America’s beloved CONSTITUTION !.....It must be taught in our schools first,so that we have somebody that remembers just what the hell it is!! “cynical’s” comment, is just what we are up against. Be afraid people,keep your power dry.
LOL,my ‘comment’ was the truth, and yes, that IS what you conservatives hate more than anything!
More than anything? Is not what you claim to be truth, it is the out right fact,that we have to go through all this again,(after all that was to be learned) years back.(McCarthy) with the likes of you. Czar’s,no mater who appointed,is, and was wrong, and not to the benefit of America. This new movement,again, toward Communism by the elites,through Obama, AINT GONA PLAY. American people are waking up comrade. You see,once you have had the best of the multiple choices,an American (that’s someone who believes in the CONSTITUTION,all of it)will not go backwards.You can be all that you want to be….but it won’t be in my Army. BTW,I read that Bush had something like 16 czar’s, I will research this,I would like to know for sure.
Czars date back to FDR’s Presidency.
Why so quiet about the issue until now?
Waiting for your ‘handlers’ to tell you when to start to worry about something that’s been going on for over 70 years?
“When asked on Fox News if he had opposed any of President Bush’s “czars,” Rep. Darrell Issa responded “No we didn’t,” despite previously claiming that czars “undermine” transparency and accountability.”
http://www.whitehouse.gov/blog/The-Truth-About-Czars/
Hypocrisy is the only thing conservatives are ever consistent about.
November 2 at 10:39 am | #1 | Link
If President Obama DID decide to appoint a ‘college pay czar’, he would still be 10 czars short of the number Bush had while in office.
For some reason, hypocrites on the right never mention that.