Investing

The Most Overpaid University Presidents

The 24/7 compensation of college presidents was based on three criteria.  The first two were the president’s compensation divided by their respective student bodies and staff.  The president of a college is ultimately responsible for these two bodies and managing them represents a large part of his responsibilities.  The third criteria was the percentage of each president’s college endowment that their compensation represents.  It is therefore possible to be highly paid and still not be “over paid”.  

For instance, E. Gordon Gee of Ohio State University was the only president to make seven figures in 2009, with a total compensation of $1,576,825.  While he ranked high in compensation relative to student body and staff, his compensation represents a below-average fraction of the school’s very large endowment.  The presidents that made out list for most over-paid college president are those at made the top ten in each of the three categories, or if they were distinct standouts in one category.

Hohn C. Hitt:  President of the University of Central Florida tops the ranks in terms of compensation as a percentage of endowment.  Last year he made a total of $594,730.  This represents 0.52% of the school’s endowment, over five times the average.  His pay seems more reasonable.  His compensation was about $11 per student and $69 per staff member, both below average.

G. Jay Gogue: President of University of Auburn University made $727,761 last year.  That represented 0.18% of the school’s $402 million endowment.  Thats just shy of two times the average.  He was paid $30 per student, and $606 per staff member, both well over average.

Carol Z. Garrison: President of University of Alabama at Birmingham made $604,161 last year.  That represents 0.18% of the school’s $332 million endowment.  She was paid $30 per student and $295 dollars per staff member.

Charles W. Steger:  President of Virginia Tech made $732,064 last year.  At 0.14% of the $527 million endowment, he ranks seventh on our list by that measure.  He was paid $24 dollars per student, which is only slightly above average.  He also stands out in dollars per staff member, which was $534 in 2009.

David B. Frohnmayer:  President of University of Oregon made $636,445 last year.  That represented 0.13% of the $497 endowment.  He was pad $31 per student and $382 per staff member, both above average.

Garrett W. McIntyre

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