The Extraordinary Compensation Packages of Ivy League Presidents

Ivy League college presidents earn extraordinary pay.

Columbia University paid President Lee Bollinger $4.6 million in 2013, a 36 percent increase from the year before, according to a tax filing released Tuesday. Yale University recently revealed it paid former President Richard Levin a bonus of $8.5 million when he retired in 2013 after 20 years.

College is big business these days. The quality of education can take a back seat to revenue.

Presidential pay at elite universities is increasingly resembling that of corporate America, with performance bonuses and exit packages. While colleges say the rewards reflect the complexity of running multi-billion-dollar organizations, professors, alumni and others have questioned whether it is appropriate for nonprofits.

Frankly, it doesn't matter whether it's appropriate of not. Trustees, typically rich and powerful folks, like the bigness of it all. Money vs Education: Guess which wins.