Yesterday, the Chronicle of Higher Education released the latest figures of top university presidents’ earnings, listing Nicholas Zeppos as the seventh highest paid private college administrator, earning $1,275,309 annually in the 2007-08 fiscal year.
According to the Chronicle, a record 23 university presidents earned more than $1 million in the past fiscal year, although the number is predicted to go down for the 08-09 year due to the economic recession.
The average pay for private university presidents was reported at $628,000, up 15.5 percent from the previous fiscal year, placing Zeppos at more than double the amount for his classification.
The Chronicle’s rankings are based on federal income tax forms, which often lag behind many months resulting in the 16 month delay in reporting figures for the 07-08 fiscal year.
The rankings include benefits along with the base pay. Of the top ten leaders in total compensation at private colleges, Zeppos is one of only four whose base pay without benefits exceeds $1 million.
Other members of the top ten list include Shirley Jackson of Rensselaer Polytechnic Institute (No. 1), Cornelius Kerwin of American University (No. 3), and John E. Sexton of New York University (No. 6).
