Today's washingtonpost.com article, "Ex-president of GWU leads in pay survey" tells of a 3.7 million pay day for former George Washington University president, Stephen J. Trachtenberg 2007-2008, 2M more in compensation than any other university president during the same time period.
Wow! Let me repeat that again because I couldn't believe it when I heard it. $2M more than any other higher education president during the same period. Which means many university presidents are making over $1M.
During the recession we have been bombarded daily regarding universities and colleges cutting back on courses, programs and salaries, but apparently not so much at the top spot. Not all of higher education presidents are making over a million dollars.
Compensation for presidents of private colleges and universities rose 6.5 percent in 2007-08, to a median of $358,746, according to an annual survey of 419 institutions by the Chronicle of Higher Education. The trade publication analyzed federal tax documents for the 2007-08 fiscal year.
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