Ivy League Presidents Are Starting to Get Paid Like Corporate Executives
Columbia University paid President Lee Bollinger $4.6 million in 2013, a 36 percent increase from the year before, according to a tax filing released Tuesday. Yale University recently revealed it paid former President Richard Levin a bonus of $8.5 million when he retired in 2013 after 20 years. Presidential pay at elite universities is increasingly resembling that of corporate America, with performance bonuses and exit packages. While colleges say the rewards reflect the complexity of running multi-billion-dollar organizations, professors, alumni and others have questioned whether it is appropriate for nonprofits.