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Higher Ed in the News

Not just college presidents earn the big bucks

February 25, 2009

An analysis of tax filings of more than 4,000 employees at 600 private colleges shows that presidents' earnings are relatively modest. The salaries of employees of private colleges were released Monday by the Chronicle of Higher Education.

Of the 88 employees who earned more than $1 million, 11 held the chief executive post — typically either chancellor or president. Of the 293 who earned $500,000 or more, fewer than a third were presidents. Athletic coaches and directors, medical school faculty and administrators and investment managers made up about half.

The focus is on private institutions because comparable detail for public-college employees does not exist. But earlier research suggests a similar pattern.

Sen. Chuck Grassley, R-Iowa, who has criticized college spending, said the report shows "more money at some colleges than people might think. Is $4 million for a single professor or coach the best use of resources? "

The highest earner on the list:  Pete Carroll, head football coach at USC, with reported income of $4.4 million.

Chronicle survey information:  Who's Making The Most

Read the full story from USA Today.