Presidents of 23 Top Private Universities Earned $1 Million Last Year

November 2, 2009 11:12 a.m. EST

New York, NY (AHN) - Twenty-three current presidents of top private universities in the U.S. earned more than $1 million last year, according to a survey of executive pays.

The annual Chronicle of Higher Education covering 419 institutions in 2007-2008 named Shirley Ann Jackson of Rensselaer Polytechnic Institute, David Sargent of Suffolk University and Steadman Upham of University of Tulsa the top earners with more than $1 million in pay during the fiscal year.

The number of university millionaires increased with the increase in their median pay to $358,746, the survey said. However, Jackson and Sargent made the highest earnings despite agreeing to pay cuts.

Meanwhile, 110 presidents in the survey earned more than $500,000 during the same period.