As college tuition inflates, so do presidents’ wallets

College presidents are getting healthy raises, and a dozen at private universities earn $1 million or more with benefits, according to a new survey.

Salaries at public universities remain a tier lower but also are on the rise, with eight presidents making $700,000 or more last year, according to the annual survey by the Chronicle of Higher Education.

Presidential salaries are facing closer scrutiny at a time when college prices continue to rise well above the rate of inflation.

The survey reports salaries from private colleges for 2005-2006, the latest year available. Figures for public colleges are for 2006-2007.

Of the 12 presidents making $1 million or more, just three are still at their school.

Richard Freeland, who stepped down in August 2006 at Northeastern University, was identified as the highest-paid president, with $2,887,775 in total compensation, including $2,373,285 in benefits.

The highest-paid, still-sitting president was William Brody at Johns Hopkins University, who received $1,938,024 in total compensation.

The highest-paid public university president was David P. Roselle of the University of Delaware, who received $874,687 in 2005-2006. Roselle retired this year.

Most college presidents don’t earn nearly that much, but salaries at most institutions are rising rapidly.

Kansas University Chancellor Robert Hemenway was given a raise to a maximum compensation of $332,051 this year, while KSU President Jon Wefald’s maximum allowable compensation was increased to $308,256.