Dive Brief:
- Besides hefty salaries, public college presidents seem to be enjoying an increasing number of benefits, according to the latest compensation survey from the Chronicle of Higher Education.
- The survey found that 80% of presidents get housing and cars, with some additionally receiving such perks as maid service, personal trainers, and food stipends, the New York Times reports.
- Two public school presidents — Penn State's Rodney A. Erickson and Texas A&M's R. Bowen Loftin — earned a total compensation of more than $1 million.
Dive Insight:
The Chronicle also reported total compensation as compared to tuition. At the University of South Florida, Judy L. Genshaft’s total compensation was 112 times tuition. The University of Central Florida's John C. Hitt took home 100 times tuition. And at Ohio State, Joseph A. Alutto’s total compensation was 99 times tuition.
In job negotiations, benefits tend to rise once salary cannot. In exchange for a lower salary, employees can settle on greater vacation time or certain perks that make up for the pay. At colleges and universities, a housing allowance is a key tool to boost the package of university presidents, other leaders, and even professors who are relocating. All of these people could find better pay in industry. The benefits, often, are what keep them in academia, and according to the Chronicle, universities are working even harder than before to sweeten employment packages. Of course, for taxpayer-funded public schools, the question is, where is the line?