The Washington Post reports that the presidents of Virginia’s two major public universities, UVA and Virginia Tech, are among the ten highest-paid presidents of public universities nationwide. An annual compensation survey by the Chronicle of Higher Education found that UVA President John Casteen ranks fourth in the country with pay and benefits totaling $797,048, while Virginia Tech’s executive, Charles W. Steger, ranks eighth at $732,064.
The highest-paid president of any public university is E. Gordon Gee of Ohio State. He earned a cool $1.6 million in 2008-09.
The Chronicle surveyed 185 public universities and community colleges and found that overall, executive pay has flattened nationwide. UVA will likely slip down the rankings when Teresa Sullivan takes the reins upon Casteen’s August retirement. She will be paid $680,000 annually over a five-year contract (still higher than the national 2008-09 median of $436,111), while he will probably be enjoying the fruits of a handsomely compensated 20-year presidency.