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Twelve Salaries of For-Profit University Presidents

Adam Rust's picture

Posted February 18, 2014

Yesterday, Penn State announced that they had chosen a new President. Eric Barron, formerly of Florida State, signed a 5-year contract worth $6 million.

But as much as that seems like a lot of money, particularly for someone working for a state government in education, it is only a fraction of the typical earnings for an executive in the for-profit college sector. The following shows the salaries at twelve publicly-

traded for-profit colleges.

  1. American Public Education, Wallace Boston:$2.32 million (2012)
  2. Apollo Group (U of Phoenix), Gregory W. Cappelli: $4.54 million (2013), $4.05 million (2012). Chairman Emeritus John Sperling received $6.87 million and $6.95 million in 2013 and 2012, respectively.
  3. Bridgepointe Education, Andrew Clark: $2.25 million (2012), $2.70 million (2011)
  4. Career Education, Steven Lesnik: $3.11 million (2013) and $504K, (2012).
  5. Corinthian College (Everest, WyoTech), Jack Massimino: $3.02 million (2013) and $3.19 million (2012)
  6. Devry, Daniel Hamburger: $6.24 million (2013) and $5.05 million (2012).
  7. Education Management (Art Institutes, Brown-Mackie, Argosy), Edward West: $1.16 million (2013) and $1.25 million (2012). 
  8. Grand Canyon Management, Brian Mueller: $2.68 million (2012)
  9. Lincoln Educational Services, Shaun E. Mcalmont: $1.97 million (2012)
  10. Strayer, Robert Silberman: $2.56 million (2012)
  11. University Technical Institute, Kimberly Mcwaters: $2.20 million (2013), $1.97 million (2012)
  12. ITT Educational Services, Kevin Modany: $8.76 million (2012). No data for 2013 at this time.  Four other employees earn more than $1.5 million at ITT.

These numbers include salaries, bonuses, stock and option awards, and then compensation for expenses.

In 2012, there were four presidents of public universities that earned more than $1 million.