University President Steven Knapp makes a lot of money. In fact, he made $1,107,934 in 2011, the latest data available – the 37th most of any private college president in the country.
But a database created last week by the Chronicle of Higher Education provides deeper look into that salary.
- College presidents’ salaries get closer attention these days because of rising tuition and expensive construction projects that have popped up on campuses across the country. But it’s important to note that Knapp’s salary is only 0.11 percent of GW’s about billion-dollar budget. For every $1 million the University spends overall, Knapp gets paid $1,078 – a lower ratio than 88 percent of private colleges.
- Compared to the group of 15 schools GW calls its peers, though, Knapp doesn’t look like quite as much of a bargain using that measure. Ten of those colleges paid presidents less per $1 million in expenditures.
- Knapp’s total compensation was only the 12th highest overall in that group of peer schools. (Former Tufts University president Lawrence Bacow took home the most, with $2.2 million.)
- Faculty also look at Knapp’s salary when measuring up their own pay. Knapp’s $761,496 base pay was 5.2 times the average salary for a full professor (the highest faculty rank). That ratio is wider that 94 percent of private colleges.
- It would take 25.1 students paying GW’s full sticker price to cover the expenses for Knapp’s salary.
The Board of Trustees sets Knapp’s salary and bonus levels each year by gauging how he reaches University goals, like fundraising. His total compensation includes bonuses and his on-campus residence, the F Street House.
Knapp is in the second year of his second five-year contract. His presidential tenure extends through July 31, 2017.
Robert Zimmer of University of Chicago had the highest compensation in the country, earning $3.359 million.