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An 'arms race' for pay at elite, tax-exempt colleges
Recent nonprofit filings show elite university leaders and hospital executives earning multimillion-dollar pay packages as institutions use deferred compensation to retain talent.
- Recent nonprofit filings reveal that top university and hospital leaders receive annual compensation exceeding $1 million, with some institutions providing $20 million longevity bonuses to departing executives.
- Colleges often obscure total leadership compensation through deferred payment agreements, which public policy researcher James Finkelstein describes as so-called "golden handcuffs" designed to discourage executives from leaving their positions.
- Dr. Robert Grossman, chief executive of New York University's health system, earned more than $15 million in 2023, while the University of Pennsylvania paid former president Amy Gutmann nearly $23 million when she departed in 2022.
- Federal lawmakers targeted high executive salaries in last year's One Big Beautiful Bill Act by expanding a 21-percent excise tax on compensation exceeding $1 million to all employees earning that amount, not just the top five.
- President Donald Trump has repeatedly threatened to revoke the tax-exempt status of elite private universities, most recently alleging that some harbor "radical left" policies, while Harvard University faces ongoing scrutiny over its tax-exempt property holdings.
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An ‘arms race’ for pay at elite, tax-exempt colleges
Top private nonprofit universities that receive government funding pay some of their top leaders millions of dollars and one even received a $20 million longevity ... The post An ‘arms race’ for pay at elite, tax-exempt colleges first appeared on [your]NEWS.
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An 'arms race' for pay at elite, tax-exempt colleges
(The Center Square) - Top private nonprofit universities that receive government funding pay some of their top leaders millions of dollars and one even received a $20 million longevity bonus, an investigation by The Center Square found.
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Total News Sources19
Leaning Left1Leaning Right6Center5Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
C 42%
R 50%
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