Grassley Responds to Chronicle Report Showing Public University Presidential Salaries Increased by Nearly 8% Last Year

In a press release issued today, Senator Charles Grassley responded to a Chronicle of Higher Education Report showing that presidents and other top hats at public universities will have a very merry Christmas as a result of getting raises averaging nearly 8%.  The release states, in part:

For public research universities, executive pay increased 7.6% (FY ‘07-’08). And while

total compensation held steady for leaders of private research institutions, presidential

pay at private master’s and bachelor’s institutions climbed 6% (FY ’06-’07). The salary

gap is closing for public research university presidents and their private counterparts:

Those paid over $700,000 nearly doubled from the year before – from 8 to 15. And

nearly one-third of presidents at public research institutions now make over $500,000.

“Salaries of college presidents always get scrutiny,” said Jeffrey J. Selingo, editor of The

Chronicle of Higher Education, which first published the executive compensation survey

in 1989, and has done so annually since 1993. “But this year, students, parents, trustees,

and lawmakers are likely to take a closer look at whether presidents are worth the cost

given how worried families are about affording tuition as everyone is feeling a bit

poorer.”

For Bloomberg news coverage of the Chronicle report, see here.  The entire report is available via the Chronicle of Higher Education website. (Subscription Required).    dkj