President Joel Ranks 453 of 550 in Top-Paid University Presidents?
According to data released last week by The Chronicle of Higher Education, Yeshiva University President Richard M. Joel ranked number 24 among the highest paid presidents of U.S. universities in 2012. However, a comparison of President Joel’s salary to the overall budget of the university shows that he makes $1,810 for every million dollars the university spends. Overseeing a budget of $686 million, President Joel’s compensation-per-million places him at 453 of 550, below hundreds of other university presidents.
The President’s pay per millions of dollars in university expenses places him in the low 16th percentile among university presidents. The median university president earned $5,466 for every one million budgetary dollars. Richard M. Joel’s compensation represented 0.18% of Yeshiva University’s total expenses.
The Chronicle reported that President Joel earned $1,242,423 in total compensation on a base compensation of $736,513 during the 2011 calendar year. According to The Forward’s newly released “Salary Survey of America’s Largest Jewish Non-Profits,” President Joel earned a base salary of $855,037 in 2012. President Joel’s salary topped the list, above Marvin Hier, director of the Simon Wiesenthal Center, who earned $751,054. The YU administration contests the number. They say the President has been compensated a base salary of $750,000 for the last six years.
However, these numbers do not reflect President Joel’s recently announced $100,000 pay cut. Assuming President Joel now receives a base pay of $636,513, he would be ranked 39th for highest salary among presidents of universities, though, according to The Forward’s numbers, he would still be the highest compensated leader of a Jewish non-profit. President Joel’s new salary in comparison to YU’s overall budget ($1,637 for every million the university spends) would now place him at 460 of 550 university presidents.
The Chronicle also published the salaries of other key employees at YU. Vice President and Chief of Staff Joshua Joseph received $330,277 in total compensation in 2011. Paul Shupack, Professor of Law, earned $627,831. In 2011, the university’s 17 top paid employees were all men.
The Chronicle also found that the median full professor salary at Yeshiva University, $162,900 in 2011, placed YU in the 97th percentile, far above nearly all U.S. universities. The median full professor salary across American universities was $84,350 in 2011. YU’s full tuition and fees, then $35,200, would place the university in the 69th percentile, with the median sticker price around the country hovering at $30,397.