Boards Justify High Pay for Presidents

Robert J. Zimmer is a man of few peers.

The University of Chicago president, who heads one of the nation’s wealthiest institutions and gets free housing in a major metropolis, earned almost $3.4-million in 2011, making him the highest-paid private-college leader in the United States that year, a Chronicle analysis has found.

Mr. Zimmer’s total compensation was eight times that of a typical private-college president, according to the most-recent tax filings of 500 colleges with the largest endowments in the United States. The median pay for this group in 2011 was $410,523, an increase of 3 percent from 2010. TheChronicle’s analysis is based on reviews of Form 990 tax forms and filings with the U.S. Department of Education. There were 42 presidents among the cohort to earn more than $1-million in 2011, up from 36 in 2010. <Read more.>

Via Jack Stripling, The Chronicle of Higher Education.