Thirty-two presidents of private colleges and universities were paid more than $1 million in 2013, with median pay for campus leaders increasing by 5.6 percent to about $436,000, The Chronicle of Higher Education reports. The Ivy League's two longest-serving presidents, Lee Bollinger of Columbia University and Amy Gutmann of the University of Pennsylvania, were the best-paid administrators, collecting about $4.6 million and $3 million, respectively, including bonuses and deferred compensation.
The Chronicle's survey of private-college salaries encompassed 558 presidents who served fully or for part of the year in 2013 at 497 institutions. Figures were drawn from colleges' Form 990 filings to the Internal Revenue Service. The number of seven-figure payouts declined from 36 in 2012.
The median share of school budgets devoted to presidential pay was 0.48 percent, with the biggest proportion going to Nido R. Qubein of High Point University in North Carolina. His $2.9 million paycheck represented 2.2 percent of spending by the small liberal-arts college, which is known for offering amenities such as free ice cream and hot tubs in dormitories. The university has tripled its enrollment under Mr. Qubein's leadership.