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VA CHIEF CASTEEN AT NO. 2 IN PAY-RICHMOND TIMES DISPATCH, NOVEMBER 13, 2007

Posted: Tuesday November 13, 2007

Va. Chief Casteen at No. 2 in Pay

By WIRE AND STAFF REPORTS

University of Virginia President John T. Casteen III was the second-highest-paid public university president in the nation, according to a survey by the Chronicle of Higher Education.

Casteen, who has been president of the university for 17 years, earned $753,672 last year, according to the Chronicle.

Eight public university presidents earned $700,000 or more last year, six more than the year before, according to the publication’s survey of 182 public universities.

The highest-paid public university president was David P. Roselle of the University of Delaware, who received $874,687 in 2005-06. Delaware considers itself a quasi-private institution, so those figures were the most recent. Roselle retired this year.

Other presidents at Virginia’s public colleges also received substantial salaries. Virginia Tech President Charles W. Steger received a total compensation package of $681,434. VCU President Eugene P. Trani received $537,622. George Mason President Alan G. Merten was paid $642,500. And Old Dominion University President Roseann Runte received $410,608 in total compensation.

Private universities across the country pay even better than public universities. College presidents at a dozen private universities earn $1 million or more including benefits, according to the Chronicle’s survey.

Presidential salaries are facing closer scrutiny at a time when college prices continue to rise well above the rate of inflation.

The survey reports salaries from private colleges for 2005-06, the latest year for which they are available. Figures for public colleges are for 2006-07.

Of the 12 presidents earning $1 million or more, only three remain at their current institutions.

Richard Freeland, who stepped down in August 2006 at Northeastern University, was identified as the highest-paid president, with $2,887,775 in total compensation, including $2,373,285 in benefits. James P. Gallagher, who stepped down at Philadelphia University, had $2,557,219 in total compensation.

Several presidents earned substantially more because of retirement bonuses or deferred compensation, including Benjamin Ladner, who received $4.3 million in pay and benefits in fiscal 2006 from American University. Ladner stepped down after revelations of excessive personal spending of university money, and most of his compensation came from severance and deferred payouts.

The highest-paid, still-sitting president was William Brody at Johns Hopkins University, who received $1,938,024 in total compensation. Just under $1.5 million came in the form of salary from the university, including about $920,000 in deferred compensation.

Most college presidents don’t earn nearly that much, but salaries at the most prestigious institutions are rising rapidly. At private research institutions, median pay is up 37 percent over the last five years to $528,105.

Still, not one of the top 10 highest-paid presidents at public universities with Division 1 athletics programs earned as much as their school’s football coach. For example, U.Va. coach Al Groh earned more than $1 million more than Casteen.

For the first time, the Chronicle also surveyed the salaries of community college presidents.

At the largest community colleges and systems, median pay is about $250,000 — compared with about $400,000 at the largest public four-year colleges.

However, some community college presidents earned substantially more. The leader was Michael B. McCall of the Kentucky Community and Technical College system, receiving total compensation of about $611,000 on a base salary of $286,000.

The Chronicle reported Glenn DuBois, chancellor of the Virginia Community College system, received $362,240 in total compensation.

Times-Dispatch staff writer Carlos Santos contributed to this report.

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VA CHIEF CASTEEN AT NO. 2 IN PAY-RICHMOND TIMES DISPATCH, NOVEMBER 13, 2007

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