No. Shore college heads get by on smaller paydays

LYNN – While public college presidents across the country continue to take heat for accepting raises while their schools cut costs, local college brass boasted some of the lowest salaries in the state last year.According to the annual Chronicle of Higher Education Survey released Monday, 15 presidents of public universities across the country took home at least $700,000 last year, while nearly one-third earn over $500,000 per year.In Massachusetts, UMass leaders all earn between $240,000 and $360,000 per year with additional perks such as living arrangements, vehicles and expense accounts. At Salem State, where Patricia Maguire Meservey officially replaced now-retired Nancy Harrington in August 2007, the base salary for president is set at $200,000, not including the use of a company vehicle.North Shore Community College President Wayne Burton earns even less than Meservey, taking home just over $182,000 per year to head the school’s Danvers and Lynn locations, which offer two-year associates degrees.Salem State offers four-year bachelor degrees along with a masters program, and hopes to add a doctorate program in several subjects soon.Both school salaries are set by a Board of Trustees, which is authorized to offer annual pay increases and bonus adjustments with the authority of the state Board of Higher Education.According to the survey, the median salary for public college presidents in the United States is now up to $427,000 per year, almost exactly $100,000 less than at private universities.While the median salary at private institutions remained about the same as in previous years, the salaries at public colleges and universities continue to grow.Experts say part of the reason for the hikes is a conscious effort to stop public college presidents from jumping ship in favor of private institutions, and to ensure that schools are attracting the best talent on the market.According to the survey, the highest paid public president in the country is Ohio State University President Gordon Gee, who earns $1.34 million per year. The highest paid private president is David Sergent of Suffolk University, who made $2.8 million last year.While college president – public or private – has always been a well-compensated position, critics have become more vocal in recent months given the economic downturn that has forced many institutions to cut costs and hike student tuition and fees.The crisis has also affected financial aid institutions, including the Massachusetts Educational Financing Authority (MEFA), which was forced to put a hold on financial aid applications this summer due to a lack of available funds.Experts say that colleges and universities see the investment in a high-priced executive as sound and intelligent even in tough times, but may start slicing compensation in the future if things don’t turn around soon.”Governing boards see the investment in a CEO as the single most cost-effective investment they can make in the whole university,” said Raymond Cotton, a Washington attorney who specializes in college presidential compensation matters. “But if the downturn continues I believe you will have a cooling effect.”Salem State, along with the other state colleges and universities in Massachusetts, announced last month that they would not hike student fees this year, rather, save money in other areas such as limiting out-of-state trips and placing a hiring freeze on non-essential positions.(Associated Press material was used in this report. )