February 13, 2003 – The salaries of university and college presidents across the country have skyrocketed in the past couple of years, according to a study by the Chronicle of Higher Education.
According to the report, in 2001, at least 27 presidents earned more than $500,000 — more than double the number who made that salary the year before.
In the fall, Ohio State President Karen A. Holbrook received an 18 percent base salary raise from her predecessor, William “Brit” Kirwan. Holbrook’s base salary is $325,000 per year, whereas Kirwan’s salary upon his departure in June was $275,000 per year.
The trend is not limited to OSU. In fact, private colleges have far out-paced public universities in raising their top leaders’ salaries. Judith Rodin, president of the University of Pennsylvania, leads the pack with an annual university compensation package of $808,021. The package includes her salary, bonuses and benefits.
“The dramatic increase in compensation for university leaders is a fairly new phenomenon — within the past 12 to 18 months, salaries at a few private and public universities has doubled, or even tripled,” said Jerry Baker of Baker-Parker, Inc., a presidential search firm based in Atlanta.
Richard T. Ingram, president of the Association of Governing Boards of Universities and Colleges, a non-profit organization representing trustees and chief executives in public and private schools, said competition between and among institutions of similar scope has pushed salaries upward.
Baker said increased salaries reflect a supply and demand dilemma for presidential positions. He said the demands and high expectations of university presidents leave many qualified candidates not wanting the position.
“The pool of candidates really is pretty small — a lot of people who are good scholars don’t want to get into administration,” Baker said.
Ann Hayes Die, managing director of Academic Search Consultation Service, a search firm based in Washington, D.C., said today’s college president needs more than an academic background.
“The percentage of presidents from non-traditional backgrounds has doubled in recent years,” Hayes Die said. “The jobs are not what they used to be — there are a lot of legislative and budget complexities.”
Ingram said presidential candidates need to have the ability to raise funds from sources outside the government.
“Government is not providing as much funding (to higher education). Presidents need to be able to raise money from private sources,” Ingram said.
“Presidential searches vary dramatically based on what kind of institution it is. Look at OSU, which is one of the best and biggest universities in the country and is very research-driven. It, along with other Big Ten schools, tend to want an established researcher and scholar,” he said.
Ingram said highly-qualified presidential candidates are often lost to the business world.
“Our most talented academic leaders with a good business background are often found to be popular candidates for business leaders as well,” he said.
The stresses of the presidential position deter qualified leaders from applying for the position.
Hayes Die, who was also the former president of Hendrix College in Arkansas, said some people in senior academic positions do not want to be president because of time constraints and stress on their family.
“Someone told me the president of a major institution had, on average, six events each night to attend,” she said.
Holbrook said some of her greatest challenges as OSU president have also been some of her greatest rewards.
“The number of people I have to interact with has been has been both challenging and rewarding,” she said. “It is a 24-7 job, particularly as a new president, and there are constant demands.”
