Good news if you're the president of a public college or university and find that a salary under a million dollars, bonuses, and special accommodations aren't enough for your struggling lifestyle of driving only a Maserati. According to Forbes, things are looking up, especially if you're in Texas.
The Chronicle of Higher Education released their latest report on the highest paid public school presidents and chancellors, and two of the top three--and three of the top ten--come from the Texas system, all of whom made over seven figure salaries.
News gets even better for the poor schlub presidents scraping by on $800,000 a year: Salaries rose by 5%, on average, for public school administrators. This is compared to the usual 2-3% annual raise typically seen.
So who are the top ten paid public university presidents and chancellors?
1. Michael Crow, President, Arizona State University $1,554,058
2. William McRaven, Chancellor, University of Texas system $1,500,000
3. John Sharp, Chancellor, Texas A&M University system office, $1,280,438
4. W. Kent Fuchs, President, University of Florida, $1,102,862
5. Michael A. McRobbie, President Indiana University system $1,067,074
6. Eric J. Barron, President, Pennsylvania State University at University Park, $1,039,717
7. Michael V. Drake, President, Ohio State University, $1,034,574
8. Michael K. Young, President, Texas A&M at College Station, $1,000,000
9. Jean E. Robillard, Interim President, University of Iowa, $929,045
10. Raymond Watts, President, University of Alabama at Birmingham, $890,000
Let's not forget that both Texas A&M and the University of Texas' head football coaches made roughly $5 million EACH last year. The basketball coaches? Potentially around $3 million.
I already knew the stereotype that everything was bigger in Texas. I just never knew that meant public higher education salaries as well.
Let's not kid ourselves, though. Tenured faculty is always told there is no room in the budget for salary increases. Likewise, colleges and universities--public and private--are relying more and more on assistant professors that can be paid on the cheap with little to no benefits offered.
But at least the administrators found money in the budget for themselves. Phew--I was worried there for a moment.
Let's not forget that both Texas A&M and the University of Texas' head football coaches made roughly $5 million EACH last year. The basketball coaches? Potentially around $3 million.
I already knew the stereotype that everything was bigger in Texas. I just never knew that meant public higher education salaries as well.
Let's not kid ourselves, though. Tenured faculty is always told there is no room in the budget for salary increases. Likewise, colleges and universities--public and private--are relying more and more on assistant professors that can be paid on the cheap with little to no benefits offered.
But at least the administrators found money in the budget for themselves. Phew--I was worried there for a moment.
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