Presidential compensation in the spotlight. From Slate.
In 2013, Ohio State University President E. Gordon Gee earned $6,057,615. This, according to the Chronicle of Higher Education, made him the top paid public college leader in the country—one of nine to break the $1 million mark. Much of that haul, it should be said, came from built-up deferred compensation and severance; Gee retired from his post last summer after he was caught on tape disparaging Notre Dame and Catholics. (He’s now running West Virginia University). But his $851,000 base salary was also the highest among state school leaders.
In the meantime, about 59 percent of Ohio State students now graduate with student loans. Of those who do, the average burden is about $26,000. And to top it off, according to a new report by the Institute for Policy Studies, between 2010 and 2012, debt among OSU students grew 23 percent faster than the national average.
So Gee got paid, while his students paid up. Should you be mad?
The Institute for Policy Studies thinks you should. Its report argues that a group of public colleges is showering its top administrators with money, while shortchanging spending on faculty and financial aid. At the 25 state universities with the best paid executives, it notes, student debt grew faster than at the average state school. Compensation packages at those institutions also grew far quicker than at public colleges on the whole.