Number Of Private University Presidents Making $1 Million Increases 36%
Career College Central summary:
A new report shows that more private college presidents than ever are making $1 million-plus salaries at a time when the expense of higher education is keeping many people out of school.
The Chronicle of Higher Education reported that 42 private college presidents had earnings that topped $1 million in 2011, the latest available figures available. That was a 36% increase from the 2010 level. The median level of compensation was $410,523. The average student loan debt, meanwhile, has risen to $29,000 per student. Estimates are that student loan debt has now exceeded the $1 trillion mark.
Salary figures were obtained through the Internal Revenue Service’s Form 990. The Chronicle of Higher Education selected private, non-profit institutions that are among the 500 largest endowments, according to the U.S. Department of Education’s Postsecondary Education Data System.
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