Monday, November 15, 2010

30 college presidents pulling down million dollar compensation

While not a football story, this is certainly eye-popping.

A recent survey released by the Chronicle of Higher Education shows that 30 college presidents earned compensation packages of more than $1 million dollars in 2008.

Southern Methodist's Michael M. Boone earned more than $2.8 million, earning title as highest-paid sitting president. Base compensation was $535,000, but a change in IRS rules in regard to life insurance triggered a $1.6 million payout to Boone.

The late president of Touro College, Bernard Lander, was the highest paid executive in 2008 at $4.8 million. The majority of that total was the result of $4.3 million in deferred compensation.

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