The Bottom Line for College Presidents: Money Matters

As established institutional leaders command higher salaries, they risk becoming hired guns

Roger W. Bowen says he was excited when he agreed to become president of the State University of New York at New Paltz, in 1996. So excited, in fact, says Mr. Bowen, who is now general secretary of the American Association of University Professors, that he gave almost no thought to the annual salary of $108,000.

The presidency was his first, and he was thrilled about the chance to make a

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