The value of College President James Wright's compensation package has climbed steadily since he took office in 1998, hitting $490,682 in 2001. But neither the amount nor the increases are unique in the Ivy League, where compensations are generally well above the national average.
Since his first full year as president, Wright's base salary has grown from $306,290 to its 2001 peak of $351,390. The nearly half-million dollar figure from that year includes his expense account, contributions to his employee benefits plan and deferred compensation from his abbreviated inaugural year.
Like many of his colleagues in the Ivy League, Wright enjoys a salary -- total payment excluding expense accounts and contributions to employee benefits plans -- that dwarfs the average for private college presidential compensation nationwide.
According to the Chronicle of Higher Education, the national average in 2000 for private college presidents stood at $207,130. In the same year, the average for Ivy League presidents was approximately $386,001. But if the $194,833 compensation of Brown University's interim president Sheila Blumstein is excluded, the Ivy average rises to $413,311.
College spokesperson Roland Adams said he was unable to comment on matters concerning Wright's salary.
In 2000, University of Pennsylvania President Judith Rodin enjoyed what was by far the most generous Ivy League compensation. Rodin's $605,000 annual salary was complemented by the year's second-largest expense account -- $18,000.
Brown's Blumstein earned the lowest salary, and Wright was slightly below the average. Cornell President Hunter R. Rawlings III made a relatively low $204,305, although he enjoyed a $26,400 expense account -- the largest in the Ivy League.
Despite their already high levels, Ivy League presidential compensation packages continue to grow.Former Harvard University President Neil L. Rudenstine saw his compensation rise from $315,000 to $352,000. From 2000 to 2001, Princeton's Harold T. Shapiro realized a compensation increase of $206,573 as his salary rose from $451,750 to $658,323.
The compensation numbers are based on data published by GuideStar.com, which makes available financial information that non-profit organizations like Dartmouth must submit to the federal government.
Although none of the Ivy League presidents received the highest compensation of any private university president, virtually all of them ranked among the highest earners in their field. And while Wright and his peers are doing fairly well by educational standards, they suffer by comparison to many corporate leaders.
In 2001, General Electric's Chief Executive Officer Jeffery Immelt '78 received benefits totaling $37,529,356. Apple Computer's Steve Jobs received no less than $83,996,128 in total payment, and enjoys the private use of a Gulfstream jet.
