Here’s one of the most valuable lessons your kids may learn when they go to college: If you want to a make a lot of money, become a university president.
Last year was a good year for college presidents in our area. A very good year, for that matter. Many of them received double-digit raises, according to the Washington Examiner.
- John DeGioia, president of Georgetown University earned more than $900,000 for fiscal 2009. That’s a 42 percent raise.
- Catholic University Presidnet David O’Connell received a 37 percent raise.
- Patricia McGuire of Trinity University saw her pay increase 14.3 percent.
Why the huge increases? Much of it has to do with longevity. Compensation includes deferred pay and benefits. Other local university presidents received raises, although theirs were much smaller percentages.