College presidents' salaries on the rise
Published Nov. 16, 2004
Salaries for college presidents are increasing nationwide, according to a report by the Chronicle of Higher Education.
Seventeen public university presidents earn more than $500,000, compared to 12 presidents last year.
The median salary for presidents at public universities is $328,400. Since this is the first year the Chronicle calculated this average, it is undetermined whether average pay has gone up.
If salaries at private universities are any indication, however, the number has probably gone up, the report said. Private university presidents make on average $459,643, up 19 percent from last year.
The highest paid president at a public university is Mark Emmert at the University of Washington, who makes $762,000 in salary and benefits. Private university presidents makes significantly more, with the top being almost $900,000 for Johns Hopkins University President William Brody.
UM system President Elson Floyd makes slightly more than the national average.
UM system spokesman Joe Moore said Floyd receives $350,000 a year, plus another $50,000 in differed compensation if he stays on for five years.
"It's basically an incentive for him to stay on as president," Moore said.
Floyd is also allowed to use the president's home on Providence Point, and he is provided with a car.
Moore said Floyd's compensation has not risen since he took the position in 2003.
"His compensation has remained the same from when he first came on," Moore said.
Moore said the four chancellors in the UM system receive $255,000 a year.
