Amidst a climate of financial worry for many American students, the tide of amply-compensated Presidents refusing or returning portions of their salaries appears to be growing. The Daily Princetonian reports that Amy Guttman, the President of the University of the University of Pennsylvania, and her husband have made two gifts totaling $250,000 to support undergraduate research and financial aid. She has also refused a base salary increase.
That news follows soon after announcements two weeks ago that Richard McCormick, the President of Rutgers, returned a $100,000 bonus, and Michael Hogen, the President of the University of Connecticut in Storrs, gave back a similar amount. Encouraging, although a minor development in a climate of still-escalating university executive salaries. If you hadn’t heard, read here.
