The club of private college and university presidents earning seven figures is getting less exclusive.
Thirty presidents received more than $1 million in pay and benefits in 2008, according to an analysis of federal tax forms by the Chronicle of Higher Education. More than 1 in 5 chief executives at the 448 institutions surveyed topped $600,000.
Most of the pay packages were negotiated before the full force of the recession. But even if the numbers dip slightly in next year's survey, executive pay is expected to keep climbing over the long term as colleges compete for top talent. And schools are rewarding executives while raising tuition, exposing themselves to criticism.
At large research universities, the median pay was $760,774; it was $387,923 at liberal arts colleges and $352,257 at undergraduate and graduate colleges and universities.
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The highest paid executive in the Chronicle survey was Bernard Lander, an Orthodox Jewish rabbi and sociologist who founded Touro College in New York in 1970. He died in February at 94.
Lander received a compensation package of nearly $4.8 million. In a statement, the college said $4.2 million of that was retroactive pay and benefits awarded after an outside consultant determined Lander had been "severely underpaid."
In 2007-08, 23 presidents received more than $1 million. As recently as 2004, no college president had broken the seven-figure threshold.
While some presidents on the latest list lead ultra-selective schools such as Columbia, Yale and Penn, executives from schools such as the University of Tulsa and Chapman University in Orange, Calif., are on it, too.
Not all the most elite schools are represented, either. The presidents of Harvard, Princeton and Johns Hopkins all were paid in the $800,000s.