The tenure of higher education leadership is getting shorter, pay greater.
It is the best of times and the worst of times for college presidents.
In its latest compilation of salaries for university leaders—presidents, chancellors, system heads—the Chronicle of Higher Education found 61 private universities and 17 public universities paid their top executive more than $1 million in 2018. Three years earlier, 59 private university presidents were paid $1 million or more, as were seven public university presidents.
Several of these well-paid executives have had short, turbulent tenures, and in some cases their high pay reflects deferred compensation or a well-negotiated severance package. William McRaven, former chancellor of the University of Texas system, who received the highest pay among public universities in 2018, left after three years and four months. During his tenure, his total compensation rose from $1 million to nearly $2.6 million.
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