May 7, 2004

College Presidents Are Hard-Working, Talented, and Vastly Overpaid

By ROGER W. BOWEN and JANE L. BUCK

The amount of money that colleges pay their leaders has attracted attention in the news media recently, as the salaries and benefits of a few college presidents have approached the unbelievable figure of $1-million a year. Two dozen or so presidents are each paid close to $500,000 in total compensation, and about 50 receive around $300,000.

Is there a college president in the nation who merits such lucrative compensation? How much is too much to pay? What is the job worth? And what

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