While university presidents earn millions, many professors struggle

Story Hinckley:

In all, 32 private university presidents earned $1 million or more in compensation in 2013. And private college presidents aren’t the only ones raking it in. The average public college president earned over $428,000 in 2014, reported the Chronicle.

“Many times when I talk to trustees, they refer to university presidents as running companies – which they could also do if they chose to enter the private sector – so to keep a president at the university they will pay what it takes,” Sandhya Kambhampadi, the lead author of the Chronicle report, tells The Christian Science Monitor in a phone interview Tuesday. “They will pay the market value.”