US: Ranks of millionaire college presidents up again

A record 23 US private college and university presidents received more than $1 million in total compensation in the 2008 fiscal year, according to an analysis of the most recently available data published last week by the Chronicle of Higher Education. And one in four in the study of 419 colleges' mandatory IRS filings made at least $500,000, writes Justin Pope for Associated Press.

Topping the list is Shirley Ann Jackson at Rensselaer Polytechnic Institute in Troy, New York, whose total compensation the Chronicle pegged at nearly $1.6 million. Next was David Sargent at Suffolk University in Boston, who made $1.5 million. But one-third of his compensation had been reported as deferred from last year and counted as salary this year, an example of the difficulty of making straight compensation comparisons.

Overall, median compensation for the group rose 6.5% to $359,000, and 15.5% at major private research universities, to $628,000. The figures essentially cover the 2007-2008 academic year. Those averages have almost certainly flattened or perhaps fallen since then, with numerous presidents - including Jackson - taking voluntary pay cuts this year amid widespread budget-cutting at their institutions. But experts say the upward trend will almost certainly resume eventually.
Full report on the Associated Press site