During the 2003-2004 fiscal year, the average salaries of research university presidents across the country saw an increase of two percent to $468,704, according to a report published earlier this week in The Chronicle of Higher Education. The report, published annually, also stated that five U.S. college presidents earned more than $1 million in compensation from the schools they manage. RPI President Shirley Ann Jackson’s total compensation was the fourth highest among research universities and the sixth highest overall.
According to The Chronicle, Jackson earned a salary of $703,829 and $235,517 in benefits during the 2003-2004 fiscal year, for a total compensation of $939,346. This is over a ten percent rise from her $848,057 in total compensation during the previous fiscal year—consisting of a salary of $644,135 and $203,922 in benefits—the fifth highest in the country according to last year’s Chronicle report. In addition to her compensation from the Institute, The Chronicle also stated that Jackson may earn up to an additional $585,000 in pay through the various corporate boards of directors she is a part of as well as her membership on the board of the New York Stock Exchange.
It was two years ago that Jackson topped the list with $891,400 total compensation from RPI, a number which included deferred compensation over three years. At the time, opinions on her salary varied with some saying it was wholly deserved and others disagreeing.
While many did not want to go on the record with their opinions on the matter, opinions on her salary still seem varied. Some, however, did share their opinions on the matter.
Steve Breyman, an associate professor in the Science and Technology Science and Technology Studies department, said, “I guess I was struck by the fact that so many presidents are making such wads of money as of late—it’s no longer just a handful of them.” He continued, “If I were President Jackson, given my slide in the rankings, I’d be asking the Board of Trustees for a raise.”
Nicole Taravella ’07 offered her view as well. She said, “I’m happy that she’s no longer the highest paid president in the country.”
Grand Marshal Max Yates ’06 said, “I believe college presidents make too much money in general, but based on the statistic of research university presidents, I think her wages are in order.” He continued, “I think the real question should be, are we paying our faculty and low level administrators enough?”
Samuel Heffner Jr. ’56, chairman of the Board of Trustees, said in a statement, “President Jackson is doing a terrific job, and the Board of Trustees is behind her 110 percent. All you have to do is compare the Rensselaer Polytechnic Institute of six years ago to the Rensselaer of today to know that President Jackson is worth every penny we pay her.”
This theme was echoed by Theresa Bourgeois, director of Media Relations, who described Jackson in a statement as “an extraordinary leader who is guiding the Institute through a major transformation, with investments in its students, faculty, staff, educational programs, and campus facilities.”
The highest paid president according to this year’s report was Lynn University’s Donald E. Ross. Having served as president of the Boca Raton, Fla., school for 34 years and having brought it back from bankruptcy, he is nearing retirement and the board there explained that they were trying to make up for some earlier years in which he received no salary because of the tight budgets. His $5.04 million total compensation for the 2003-2004 fiscal year includes $4.5 million in deferred compensation.
The other higher education presidents who received over $1 million in total compensation for the 2003-2004 fiscal year according to the report were, Wilmington College President Audrey K. Doberstein, Vanderbilt University’s Chancellor E. Gordon Gee, Boston University’s John R. Silber, and Middlebury College’s John M. McCardell, Jr.
