Tuesday, May 29, 2012

 Was President Bruininks Worth More than He was Paid?

His salary?  Or total compensation? 

"This is nothing personal against President Bruininks. He ran a huge institution. Perhaps he was worth more than he was paid."  St. Paul Pioneer Press 3/10/12

Good thing to think about. But one should do so with the full deck of cards. A casual inquiry about then President Bruininks salary would provide the following information:


Total Pay?

Tehnically that might be correct, but the figure is extremely misleading considering his total compensation which is the actual number of importance.  What did it cost the University of Minnesota, the taxpayers, and the students to keep President Bruininks in Morrill Hall?

"At least as far back as 2007 his total annual compensation exceeded $730,000, including University contributions to two retirement plans.  (He also had the use of a house on East River Road and a car.)  See the Business Week report at http://images.businessweek.com/ss/09/02/0216_college_pres/8.htm." writes my friend and fellow alum Michael McNabb.

From that article:


If you are looking at this on a small screen that number is $733,421...

And in case you are wondering whether Bruininks suffered much as the university went through financial chaos, never fear.

Past U president ranks among best paid

The past president of the University of Minnesota was among the best-paid university presidents in the United States.

Robert Bruininks' total compensation of $747,955 in fiscal year 2011 earned him 8th place on a new list of public university leaders compiled by the Chronicle of Higher Education.

That compensation includes a base salary of $447,955, which alone ranks 45th among 199 presidents. But what brings him to the higher spot is $300,000 in deferred compensation.

For an essay prompted by absurd executive compensation at the University of Minnesota,  please see Michael McNabb's post:

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