Harvard Paid Claudine Gay $1.5 Million in 2024 After Resignation, Financial Disclosures Show

Former Harvard President Claudine Gay earned more than $1.5 million in 2024, according to Harvard’s annual tax filings, receiving a higher compensation package in the year after she resigned from the presidency than she did during her six months in Massachusetts Hall.

Gay’s compensation rose from the more than $1.3 million she earned in 2023 — which spanned the end of her term as Faculty of Arts and Sciences dean and all six months of her presidency.

Harvard President Alan M. Garber ’76 earned more than $1.6 million in 2024, his first compensation reported while serving at Harvard’s helm. Garber served as interim president from January to August 2024, when he was appointed to the position permanently.

And Harvard Management Company Chief Executive Officer N.P. “Narv” Narvekar — the highest-paid employee across HMC and Harvard — earned more than $6.2 million in 2024, a slight increase from his $6 million payout in 2023.

The compensation, released as part of the University’s Form 990 tax filings for fiscal year 2025, is required annually by the Internal Revenue Service for tax-exempt entities. Salaries are reported for the 2024 calendar year.

Gay resigned on Jan. 2, 2024 amid plagiarism allegations and intense criticism over her response to campus antisemitism. She then began a post-presidential sabbatical before returning to the faculty as a professor of Government and of African and American Studies in January 2025.

Garber’s pay exceeded the roughly $1.2 million he earned in 2023 as provost. It also surpassed the Gay’s 2023 compensation and Bacow’s regular presidential compensation of more than $1.3 million in 2021 and 2022.

Bacow earned $3.1 million in 2023 as he left the presidency, largely due to deferred compensation paid out at the end of his tenure. He earned more than $760,000 in 2024 in his role as president emeritus and professor of public policy.

The University’s 990 release comes one year after Harvard announced that Garber would take a voluntary 25 percent pay cut for fiscal year 2026 as the University faced mounting financial and regulatory pressure from the Trump administration. The cut, which could amount to a six-figure reduction, will not be reflected until a later Form 990 filing.

Narvekar’s pay ticked up after falling slightly the previous year. He earned nearly $6.2 million in 2022 and $6.07 million in 2023. His 2022 compensation reflected a 6.9 percent pay cut after the endowment had its third-worst annual investment returns in the last two decades.

HMC Chief Investment Officer Richard W. Slocum earned nearly $5 million in 2024, down slightly from just over $5 million in 2023 and the nearly $7.7 million he received in 2022. HMC Chief Operating Officer and Chief Financial Officer Sanjeev Daga also earned nearly $5 million.

Three members of HMC’s generalist team also earned multimillion-dollar paychecks: Adam Goldstein earned nearly $3.5 million, while John Shue and Marcus Loveland each earned more than $3 million.

Outside Harvard Management Company, the University’s highest-paid employees listed in the filing were three Harvard Business School professors who received large payouts through a voluntary retirement incentive plan.

Robin J. Ely, Nancy F. Koehn, and Kathleen L. McGinn each earned roughly $1.9 million in 2024, with most of their compensation coming from one-time retirement payments. The filing stated that Harvard Business School’s voluntary retirement incentive plan allows eligible faculty members to retire at a set date in exchange for a lump-sum payment.

Other top-paid administrators included Harvard Provost John F. Manning ’82, who earned more than $1 million in 2024 — the first year his compensation was reported after he became provost. Manning became interim provost in March and was appointed to the position permanently in August. He earned $884,000 in 2023 while serving as dean of Harvard Law School.

FAS Dean Hopi E. Hoekstra earned more than $960,000 in 2024, her first full calendar year as dean. Hoekstra received $332,000 in 2023 after beginning her tenure in August of that year.

Several other senior administrators and faculty members also received seven-figure compensation packages.

Harvard Business School Dean Srikant M. Datar earned more than $1.1 million, while Harvard Medical School Dean George Q. Daley ’82 also earned more than $1 million.

Former Vice President for Alumni Affairs and Development Brian K. Lee earned nearly $1 million in his last full calendar year before retiring in April 2025.

—Staff writer Megan L. Blonigen can be reached at [email protected] and on Signal at megblon.50. Follow her on X at @MeganBlonigen.