It pays to be the president of a private college, especially at the University of Richmond.
The average total compensation paid to the presidents of private universities and colleges in Virginia during fiscal 2008-09 was $360,781, according to a report released Monday by the Chronicle of Higher Education.
Of the 12 such higher ed institutions in the commonwealth, UR President Edward Ayers was the highest paid, according to the report. The head Spider received $710,472 in total compensation during the ’08-’09 fiscal year.
The Chronicle’s study analyzed compensation for all private higher ed school presidents in the United States based on disclosures the schools must make in federal tax forms.
UR reported $214.23 million in revenue, the second highest among the state’s private colleges. UR reported $237.74 million in expenditures during that time, also the second highest among its peer in Virginia.
Liberty University, by far, had the highest level of revenue: $395.89 million. President Jerry Falwell Jr., however, was No. 11 on the Virginia list in pay, having received $270,504 that year.
Read the Chronicle’s full report here.
The Chronicle included the total pay of 448 private school heads, 30 of which received more than $1 million in total pay that year. That’s up from 23 who earned more than $1 million the previous year, according to the Chronicle.
The highest paid in the nation was Bernard Lander of Touro College. The late Mr. Lander received a total compensation package of $4.78 million.
Another noteworthy number from the Virginia rankings: The lowest paid on the list was the enigmatic Pat Robertston, president of Regent University in Virginia Beach, who was paid $71,098 for his services to the school.
Here’s the full list from Virginia schools in order of total compensation:
School President Total Comp.
University of Richmond Edward Ayers $710,472
Hampden-Sydney College Walter Bortz III $597,327
Washington and Lee University Kenneth Ruscio $505,119
Lynchburg College Kenneth Garren $342,498
Randolph-Macon College Robert Lindgren $332,295
Marymount University James Bundschuh $325,211
Hampton University William Harvey $317,743
Roanoke College Michael Maxey $294,488
Bridgewater College Phillip Stone $282,963
Shenandoah College Tracy Fitzsimmons $279,662
Liberty University Jerry Fallwell Jr. $270,504
Regent University Pat Robertson $71,098
It pays to be the president of a private college, especially at the University of Richmond.
The average total compensation paid to the presidents of private universities and colleges in Virginia during fiscal 2008-09 was $360,781, according to a report released Monday by the Chronicle of Higher Education.
Of the 12 such higher ed institutions in the commonwealth, UR President Edward Ayers was the highest paid, according to the report. The head Spider received $710,472 in total compensation during the ’08-’09 fiscal year.
The Chronicle’s study analyzed compensation for all private higher ed school presidents in the United States based on disclosures the schools must make in federal tax forms.
UR reported $214.23 million in revenue, the second highest among the state’s private colleges. UR reported $237.74 million in expenditures during that time, also the second highest among its peer in Virginia.
Liberty University, by far, had the highest level of revenue: $395.89 million. President Jerry Falwell Jr., however, was No. 11 on the Virginia list in pay, having received $270,504 that year.
Read the Chronicle’s full report here.
The Chronicle included the total pay of 448 private school heads, 30 of which received more than $1 million in total pay that year. That’s up from 23 who earned more than $1 million the previous year, according to the Chronicle.
The highest paid in the nation was Bernard Lander of Touro College. The late Mr. Lander received a total compensation package of $4.78 million.
Another noteworthy number from the Virginia rankings: The lowest paid on the list was the enigmatic Pat Robertston, president of Regent University in Virginia Beach, who was paid $71,098 for his services to the school.
Here’s the full list from Virginia schools in order of total compensation:
School President Total Comp.
University of Richmond Edward Ayers $710,472
Hampden-Sydney College Walter Bortz III $597,327
Washington and Lee University Kenneth Ruscio $505,119
Lynchburg College Kenneth Garren $342,498
Randolph-Macon College Robert Lindgren $332,295
Marymount University James Bundschuh $325,211
Hampton University William Harvey $317,743
Roanoke College Michael Maxey $294,488
Bridgewater College Phillip Stone $282,963
Shenandoah College Tracy Fitzsimmons $279,662
Liberty University Jerry Fallwell Jr. $270,504
Regent University Pat Robertson $71,098
It would have been more interesting if the public universities has been included as well. Private colleges shouldn’t be singled out when public universities’ presidents are being paid on par as well.