The Chronicle of Higher Education released a report today that detailed how private college presidents have seen their pay packages increase over the past year while tuition continues to rise. (Also right now, there's about $1 trillion tied up in student loans, so, yeah, point No. 2 that people are angry about this pay uptick.) Many of these private college leaders have made the argument that they'd make more in the corporate world, however they're also collecting cash dedicated to taking care of tax expenses—a practice that is even frowned upon by Fortune 500 companies.
Among the 50 highest-paid private-college presidents in 2010, half led institutions that provided top executives with cash to cover taxes on bonuses and other benefits, a Chronicle analysis has found. This practice, known as “grossing up,” has fallen out of fashion at many publicly traded companies, where boards have decided the perk is simply not worth the shareholder outrage it can invite.
“Those arrangements became radioactive over the last 10 years,” said Mark A. Borges, an expert on executive pay and a principal at Compensia, a consulting company.
So who's bringing in the most moolah, or at least was two years ago when this information comes collected? The top 10 (or at least the top 5) might surprise you.
We're not going to crap on the top 3 schools on this list, but it does seem like David Pollick, for instance, may have some incredible negotiating skills.
The rest of the list can be found here.
[H/T: Huffington Post]