Being a university president is a very good job. We recently reported on the costs at public universities in Virginia, costs that have risen 36% over the last 7 years. Incomes for our university presidents have also risen. Even the lowest paid president in Virginia, Donna P. Henry of UVA at Wise, makes a a salary of $230,000 which is a good bit more than $175,000 a year that our Governor earns. [read_more]President Ángel Cabrera at George Mason University earns the top salary among our university presidents, $531,400, with an annual performance bonus up to $106,280.
Even more impressive than the salaries of our university presidents is the perks that go with the job. Their housing is free, along with housekeeping services, maintenance on their home, and real estate taxes on the home are paid by the university. Presidents are given cars or a $1,000 a month car allowance. Often their car insurance, maintenance, and gas is paid for by the university.
President Paul Tribble at Christopher Newport University earns $360,000 a year and will continue to earn that even after he is no longer president for teaching three classes a year as a tenured professor. He also receives $100,000 a year in retention payments and an expense allowance of $11,000 a year. President Timothy Sands at Virginia Tech is paid $500,000 a year with 26 weeks of sick leave per year. John Broderick at Old Dominion University receives a salary of $344,000 with deferred annual compensation of at least $112,200.
At UVA Teresa Sullivan is paid $485,000 year, plus $15,000 for her car, $180,000 in deferred compensation, all housing expenses paid, and initiation fees and dues paid at the Boar’s Head Sports Club. President Michael Rao at VCU has a base pay of $488,500 with a signing bonus of $275,000. He also receives $191,500 in deferred compensation and an annual expense allowance of $50,000. He is also paid $7,000 a year for tax preparation and financial planning.