The New York Times: Increased Compensation Puts More College Presidents in the Million-Dollar Club
Soaring compensation of university presidents, once limited to a few wealthy institutions, is becoming increasingly common, with the number of million-dollar pay packages at private institutions nearly doubling last year, and compensation at many public universities not far behind.
Presidents at 12 private universities received more than $1 million in the 2005-6 school year, the most recent period for which data on private institutions is available, up from seven a year earlier, according to an annual survey of presidential pay to be released today by The Chronicle of Higher Education. The number of private college presidents earning more than $500,000 reached 81, up from 70 a year earlier and just three a decade ago.
The survey also found that the number of public university presidents making $700,000 or more rose to eight in 2006-7, the reporting period for public institutions. Only two public university presidents made $700,000 in the previous period. The survey did not include E. Gordon Gee, who took over at Ohio State University earlier this year and whose $1 million pay package, before bonuses, is probably the highest of any public institution.
Make universities accountable for what matters
Houston Chronicle: Make universities accountable for what matters
Put higher education on the spot to show how well our students learn
By CHARLES MILLER and KEVIN CAREY
It’s an article of faith that free markets have given America the greatest higher education system in the world. Unlike K-12 schools, colleges and universities have to compete for students and resources. As a result, the thinking goes, we’re blessed with vibrant institutions that operate relatively free of government control and provide a crucial advantage in the global contest for economic supremacy.
Unfortunately, this is wrong on all counts. When it comes to their most important mission — helping students learn— American colleges and universities are badly underperforming and overpriced. That’s because they don’t operate in anything like a true free market. And the solution to this problem isn’t less government involvement, but a stronger role of a different kind.
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