Suffolk's Sargent tops pay scale for college presidents

Suffolk University president David Sargent's compensation totaled $2.8m in 2006-07.

College presidents' earnings continue to climb, and a new survey put Suffolk University's David J. Sargent at the top, as the most lavishly paid leader at any US institution.

Sargent's compensation in 2006-2007 totaled $2.8 million, according to The Chronicle of Higher Education's annual survey, released today.

Overall, pay and benefits for presidents at 184 public universities rose more than 7 percent. Nearly one-third of presidents at public research institutions make over $500,000, and the number receiving more than $700,000 rose from eight to 15.

Leaders of public research universities drew a median salary and benefits of $427,400.

Pay for presidents at private research universities in 2007 remained steady at $527,000, while salaries for those at smaller private universities rose 6 percent

The wage increases drew criticism as excessive during a slumping economy that has made it harder for families to afford rising tuition costs. A host of colleges, including wealthy institutions such as Harvard, Columbia, and Dartmouth, have announced cost-cutting measures in recent days to offset steep declines in their endowments.

"In these hard economic times, apparently belt-tightening is for families and students, not university presidents," Charles Grassley, chairman of the US Senate Finance Committee, said in a statement.

Jeffrey J. Selingo, Chronicle editor, said the paychecks of college presidents are likely to receive more scrutiny in the current financial crisis.

Sargent's lucrative package was largely the result of deferred payments he will receive when he retires and a $436,000 longevity bonus, a school spokesman said.

Sargent, 77, has worked at the Beacon Hill university since 1956, the last 19 years as president. He will earn a $1.1 million bonus for never taking a sabbatical over that time.

In addition to $436,000 in base pay, he received a $436,000 longevity bonus, $555,667 in deferred pay, and a performance bonus of $87,200.

The university's board of trustees agreed to Sargent's current five-year contract, signed in 2006, in recognition of the "incredible service and contribution he had made to the university," said spokesman Greg Gatlin. Trustees also were aiming to sway Sargent from retiring and to make up for years of paying him less than his counterparts.

"You can't put a price on what David Sargent has done for the university, our students, and the city of Boston," Gatlin said. "Our trustees felt it would be a huge mistake to lose him."

Other presidents' salaries included: $901,692 for Robert A. Brown at Boston University; $808,698 for Susan Hockfield at MIT; $572,571 for Lawrence Bacow at Tufts; and $589,663 for Joseph Aoun at Northeastern. Boston College president, the Rev. William P. Leahy, whose salary was not disclosed in the survey, donated his compensation to his religious order.

Among leaders of public universities, last year University of Massachusetts president Jack M. Wilson earned $473,200; UMass Lowell chancellor Martin T. Meehan earned $351,900; UMass Boston chancellor J. Keith Motley earned $318,300; and interim UMass Amherst chancellor Thomas W. Cole Jr. earned $367,500.