Advertisement

Harvard Releases Compensation Figures for 2008

Harvard paid President Drew G. Faust $822,011 in salary and benefits in 2008, according to an IRS filing released Monday.

Faust’s earnings included a base salary of $671,388, over $100,000 for a home in Cambridge, and other benefits. That represents a 6 percent raise from 2007, the year when Faust assumed the presidency. Her reported compensation that year did not include the cost of a house, but did account for an $80,000 moving allowance.

Faust’s salary comes in well below those of some of her Ivy League peers. In 2007, Columbia President Lee C. Bollinger made $1.38 million, while University of Pennsylvania President Amy Gutmann '71 made $1.23 million, according to a study conducted by the Chronicle of Higher Education.

Advertisement

Faust’s compensation is also dwarfed by that of several Harvard Management Company employees, of whom the highest paid took home more than $6.3 million in 2008. HMC reported pay data for 2008 yesterday that it had already released, citing a change in IRS rules that required reporting by calendar rather than fiscal year.

Former University President Lawrence H. Summers earned $648,825 in 2008, when he served as an economics professor. That sum included a $62,640 severance payment, the filing indicates.

Advertisement

Among Harvard's most highly paid faculty members were professors who accepted the University's retirement incentive package. Harvard Business School professor William E. Fruhan received $1,182,420, including $720,000 of retirement incentives.

—Staff writer William N. White can be reached at wwhite@fas.harvard.edu.

Tags

Advertisement