Update: I’ve added compensation data for Georgetown President DeGioia... and AU President Kerwin.
George Washington University President Steven Knapp looks to be the first college leader in the area to earn $1 million in total compensation, according to tax documents filed by the school for 2009.
He’s certainly not the first college president to earn $1 million. The Chronicle of Higher Education found in its most recent survey that 30 presidents of private colleges earned seven-figure pay in 2008.
Knapp earned $985,353 in salary, benefits and other compensation in 2008. In 2009, the figure rose to $1.05 million. The student-run Hatchet newspaper first reported Knapp’s pay.
University spokeswoman Candace Smith provided me a breakdown of Knapp’s compensation: base salary of $691,462, a bonus of $97,500 and other current-year compensation totaling $116,315, including life insurance, retirement benefits and tuition assistance; deferred compensation of $53,500; and benefits totaling $94,859, including medical and dental insurance and housing.
Knapp’s pay is set by the university’s Board of Trustees according to the compensation rates at GWU’s peer institutions, including New York University and Boston University, Smith said. (Both of those presidents earned more than $1 million in 2008.)
I have asked Georgetown and American universities for comparable pay information for their respective presidents. Georgetown President John DeGioia earned $911,613 in 2008; AU President Cornelius “Neil” Kerwin earned $760,774.
Update: DeGioia earned $911,918 in 2009, virtually the same total as in 2008, according to the university. This includes base compensation of $543,863. Kerwin earned $797,143.