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Median Pay for Presidents at 185 Large Public Universities: $444,487
By JLP | April 4, 2011
From today’s WSJ:
As many state legislatures debate double-digit percentage cuts in higher-education funding, presidential pay could become a sensitive subject. In Austin, for instance, University of Texas Chancellor Francisco G. Cigarroa is asking lawmakers to limit proposed reductions in the state’s funding of higher education, even as his compensation was third highest, by total cost of employment, among public-university leaders in America.
Last school year, Dr. Cigarroa was paid $750,000, with perks such as deferred compensation bringing the total cost of his employment to $813,892, the Chronicle survey said.
A University of Texas spokesman said Dr. Cigarroa has received no pay increase since taking the job two years ago. In a statement, Gene Powell, chairman of the University of Texas System Board of Regents, said the vast majority of the chancellor’s compensation comes from an endowment rather than from taxpayers.
Did you catch the first sentence of that last paragraph? “A University of Texas spokesman said Dr. Cigarroa has received no pay increase since taking the job two years ago.”
I always find it funny that executive pay is always defended by, “But he hasn’t had a raise in X number of years.”
Even with a 3% inflation rate over the last three years, this president’s purchasing power is still over $684,000. Not too shabby if you ask me.
It’s no wonder college is so expensive.
Topics: Business News, College Funding | 14 Comments »
April 4th, 2011 at 12:23 pm
University of Texas, Austin, has about 50,000 students. Dallas, 17,000. Arlington, 33,000. In all, about 210,000 students attend the UTX system.
Dr. Cigarroa manages that system. His compensation package comes to about $4 from each student.
April 4th, 2011 at 12:53 pm
Cigarroa is the “chancellor” of UT.
William Powers, the president of UT Austin, has a total compensation of $701,995.
How these guys can struggle after two years with no pay increase is beyond me.
April 4th, 2011 at 1:24 pm
BG,
Do you believe in spreading the wealth around?
April 4th, 2011 at 1:54 pm
Beeg) you seem to be very combative today, not sure what your issue is. Since it was disclosed that the majority of the chancellor’s pay is from endowment funds, I could care less.
I don’t donate any money to UT.
If the majority of his pay was from tax-payers, you bet I’d take issue with a government employee making that much.
April 4th, 2011 at 10:34 pm
The more university operating expenses
come from ‘endowment funds’, the less comes
directly from taxpayers. Who thinks that
endowment funds should be used to build
libraries, buy computers, lab equipment, books,
and pay professors? If bloated admin salaries
waste endowment funds, you think the taxpayers
WON’T pay in the end? Might as well ‘take issue’
now….
April 4th, 2011 at 10:40 pm
Harm,
That’s what I was thinking.
April 5th, 2011 at 8:59 am
Harm and JLP) What do you propose then?
My idea: eliminate charitable deduction status to any organization who has at least one employee earning $250k or more (adjusted for inflation).
Salaries at places like this would come down lickety-split.
April 5th, 2011 at 10:39 am
Well, BG, if we just went to the Fair Tax, none of it would be tax-deductible!!
April 5th, 2011 at 10:49 am
Jack) I’m with you there — flat tax for all, no deduction/exemptions/loopholes: including “charitable contributions” to execs with mega-salaries.
April 8th, 2011 at 5:33 am
A sales tax would be so much easier — then you wouldn’t need IRS agents checking your income statements.
April 8th, 2011 at 8:37 am
But then you would have ignorant/corrupt entities that don’t remit the tax $ and might not have the “fear” an individual has of the IRS.
April 11th, 2011 at 10:19 am
Stacey, most States have sales taxes. Can you cite any cases in which that has happened?
April 11th, 2011 at 3:11 pm
Jack) Amazon.
April 11th, 2011 at 4:41 pm
Amazon is not responsible for paying the taxes — the consumers are.