MILLION-DOLLAR MAN: Hendrixs Cloyd.

  • MILLION-DOLLAR MAN: Hendrix’s Cloyd.

A Chronicle of Higher Education article serves as a reminder that football coaches aren’t the only college employees making seven-figure pay.

Advertisement

Some college presidents are in that league, too, including some at fairly small institutions.

The article ranks the top 10 college presidents according to pay as as percentage of campus budget. The article notes that presidential pay has grown much faster than faculty pay and it endeavors to identify “outliers,” those campuses where presidential pay constitutes a disproportionate amount of the budget.

Advertisement

According to this national survey by the Chronicle, Hendrix College’s Tim Cloyd was ranked No. 4 in 2009, with $1.056 million compensation, or 1.6 percent of the college’s $65.4 million budget. But the article notes:

The highest-ranking presidents on the pay list frequently earn their spots as a result of deferred-compensation payouts. Such was the case with J. Timothy Cloyd, whose 2009 compensation of $1.1-million at Hendrix College more than tripled his pay from the previous year. The spike is largely due to the fact that, in 2009, Mr. Cloyd collected eight years of contributions and earnings from a deferred-compensation plan valued at $738,388.

“We didn’t just decide to go pay him a million dollars for being a good president in 2009,” said David A. Knight, chair of the board of the college, which is located north of Little Rock, Ark.

It was nonetheless a good year. Only 36 college presidents made more than $1 million in 2009, the article said. Overall, though, the trend of a widening gap between administrators and faculty continued. One survey showed a 35 percent gain for presidents versus a 5 percent gain for faculty over a decade, the article said.

Advertisement

Help to Keep Great Journalism Alive in Arkansas

Join the fight for truth and become a subscriber of the Arkansas Times. We've been battling powerful forces for 50 years through our tough, determined, and feisty journalism. With over 63,000 Facebook followers, 58,000 Twitter followers, 35,000 Arkansas blog followers, and 70,000 daily email blasts, our readers value great journalism. But we need your help to do even more. By subscribing and supporting our efforts, you'll not only have access to all of our articles, but you'll also be helping us hire more writers to expand our coverage. Together, we can continue to hold the powerful accountable and bring important stories to light. Subscribe now or donate for as little as $1 and be a part of the Arkansas Times community.

Previous article Fort Smith welcomes new restaurants Next article Oaklawn adds phone wagering at the track