Through recessions, budget cutbacks, and simply times of economic unsurety, there is one profession that has been charmed enough not to take much of a pay hit. That profession is that of
the college president. It is known that the President of the United States makes a consistent $400,000 salary per year, with the only fluctuation being that of adjustment for inflation. But
how much does the average college president make? We at Brand College Consulting were curious, so we zeroed in on the salaries of college presidents at 3 Florida institutions, from a broad range of levels of prestige and location. In this post, we will be examining:
In this post, we will be examining:
1) University of Florida (#1 Florida School)
2) Nova Southeastern University (#11 Florida School)
3) University of Tampa (#25 Florida School)
1) University of Florida
It is no surprise that the highest paid president on our list would hail from the University of Florida, the state’s most prestigious institution. But this year’s freshman president, Kent Fuchs
will be the highest-paid public university president in the state when he begins his job on Jan. 1. At $860,000, it is the highest base salary of any of the other Florida university presidents, and
almost double the base salary for many of them. With an annual deferred payment of $180,000 it puts him into the million-dollar bracket.
(Source: Gainesville News)
2) Nova Southeastern University
Our #11 school’s president pulls in a comparable salary to U. Florida, and even some Ivy Leagues out there. At a whopping $782,000 dollars plus benefits, the current University
president is beating out presidents at higher ranking state- schools across the country. In the past, they’ve even gone on to break salary records. President Ray Ferrero Jr. collected $1,223,499 in
salary and benefits, ranking him tops in the state and ninth nationally among research-university presidents.
(Source: The Sun Sentinel)
3) University of Tampa
The final school we’ll be examining is the #25 ranking school in FL, University of Tampa. Despite being lower on the ranking list, U. Tampa’s president still ranks in the top 5 regarding compensation. The latest report of U. Tampa’s presidential salary was just over $800,000.
(Sources: Orlando Sentinel, Glassdoor)
Summary
In recent years, large college/ university president salaries have come under fire, as students and fellow staff members alike believe they are being over compensated. However, there are three
main factors to consider:
1) Working in the private sector, these individuals would expect to garner salaries minimally twice as high as their current pay, especially as they increase in academic
prowess and years of experience.
2) This money makes up a small fraction of university expenditures. The report, from The Chronicle of Higher Education, helpfully lists the president’s compensation as a fraction
of his or her institution’s total spending.
3) This is arguably the most important point: This is compensation for an individual presenting themselves as the face of the institution, placing them in the direct line of fire for any
and all decisions the college/university makes. This includes, but is not limited to:
● Administrative/managerial
● Academic
● Financial
● Social and public affairs
● Board-related matters
So the next time someone sneers at the mention of high-salaried presidents, ask them this: What would they expect to be paid for the same position?
