By Kelly Heyboer/ The Star-Ledger
Two New Jersey college leaders made the top 100 list: New Jersey Institute of Technology President Joel Bloom ranked 67th with a total compensation of $566,280 and Rutgers University President Robert Barchi ranked 72nd with a total compensation of $551,669. However, Barchi’s ranking was based on a portion of his yearly salary because he took office in September, 2012.
Barchi is expected to rank much higher on the list in future years once his full salary and compensation is considered. Under his Rutgers contract, Barchi earns a $650,000 base salary and is eligible for a maximum annual incentive bonus of $97,500. Last fall, the Rutgers Board of Governors awarded Barchi a $90,000 bonus for his first year on the job, though the president donated the money back to the university.
“It is our intention that this money be used to augment student aid for undergraduate students at our university,” Barchi said at the time.
Barchi’s total compensation of more than $740,000 last year would have moved him up into the top 25 on this year’s list of highest-paid presidents.
In New Jersey, public college presidents’ salaries are set by each school’s governing board. There are no salary limits or guidelines set by the state.
Though compensation for public college presidents has been rising, more private college presidents earn in excess of $1 million, the Chronicle of Higher Education found. In a separate survey released last year, 42 private-college presidents earned more than $1 million, according to the analysis of 2011 college tax returns.
Outgoing Princeton University President Shirley Tilghman was the highest-paid private college president in the state with a total compensation package of $935,326, according to the Chronicle’s survey. Tilghman, who stepped down last summer, was the 51st-highest-paid private college president in the nation that year.