Public university chiefs’ salaries up

Public university presidents’ salaries climbed 7.6% last year, according to an annual Chronicle of Higher Education survey.

Fifteen presidents of public research universities took home at least $700,000 in 2007-08, up from eight in last year’s survey, and nearly one-third earn more than $500,000. The salary increases almost entirely reflect contracts signed before the economy turned sharply downward.

But the latest figures will likely attract criticism because colleges and universities are slashing budgets, with many laying off staff. Public universities increased tuition 6.4% this fall, according to recent figures from the College Board.

The median salary for public university presidents -- now $427,400 -- is almost exactly $100,000 less than at private universities, where the median salary barely changed.