2008 Woodie Awards
Video related to this article is available below.Issue date: 6/19/08 Section: News
Gutmann pay increases by 40 percent
Salary jump makes her one of highest-paid univ. presidents
Anthony Campisi
Penn President Amy Gutmann received a 41-percent pay increase last year - a jump in compensation that makes her one of only a handful of college presidents who take in more than $1 million annually.
Gutmann earned a total of $1,155,634 in the 2006-07 fiscal year, the latest year for which compensation figures are available. That's about 17 percent more than Gutmann's predecessor, Judith Rodin, earned her last year as president, when she took in $986,915.
It also makes her one of only about eight college presidents who earn seven figures, according to Khiet Ho, a project analyst for Washington law firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, who specializes in higher-education compensation issues.
And Gutmann is also the best-paid president in the Ivy League for whom figures are available. The next highest is Ruth Simmons of Brown University, who earned $775,718. (Yale, Columbia and Princeton universities did not provide their tax returns before press time.)
Raymond Cotton, a partner at Mintz Levin, said that the average compensation increase among university presidents was about 10 percent a year.
When asked to comment for this article, Gutmann's office referred all questions to University spokeswoman Lori Doyle.
In a statement, Doyle said the pay increase was a result of Gutmann's exemplary performance handling the transition from Rodin's administration to her own.
"Rather than lose momentum during the transition to a new president in '05, we have gained momentum and Penn is in a very enviable spot in higher education," she wrote in an e-mail.
She added that Gutmann's salary was lower than normal during the first several years of her presidency because of her status as a new and first-time president.
Of her total compensation, Gutmann earned $750,000 in salary and took in $139,000 for "retirement and disability-related expenses" as well as $170,000 in deferred compensation that will be paid out if she reaches "certain goals and objectives," according to Doyle, who was unable to elaborate further. She also had a $66,848 expense account, which was used for living and travel expenses.
Gutmann earned a total of $1,155,634 in the 2006-07 fiscal year, the latest year for which compensation figures are available. That's about 17 percent more than Gutmann's predecessor, Judith Rodin, earned her last year as president, when she took in $986,915.
It also makes her one of only about eight college presidents who earn seven figures, according to Khiet Ho, a project analyst for Washington law firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, who specializes in higher-education compensation issues.
And Gutmann is also the best-paid president in the Ivy League for whom figures are available. The next highest is Ruth Simmons of Brown University, who earned $775,718. (Yale, Columbia and Princeton universities did not provide their tax returns before press time.)
Raymond Cotton, a partner at Mintz Levin, said that the average compensation increase among university presidents was about 10 percent a year.
When asked to comment for this article, Gutmann's office referred all questions to University spokeswoman Lori Doyle.
In a statement, Doyle said the pay increase was a result of Gutmann's exemplary performance handling the transition from Rodin's administration to her own.
"Rather than lose momentum during the transition to a new president in '05, we have gained momentum and Penn is in a very enviable spot in higher education," she wrote in an e-mail.
She added that Gutmann's salary was lower than normal during the first several years of her presidency because of her status as a new and first-time president.
Of her total compensation, Gutmann earned $750,000 in salary and took in $139,000 for "retirement and disability-related expenses" as well as $170,000 in deferred compensation that will be paid out if she reaches "certain goals and objectives," according to Doyle, who was unable to elaborate further. She also had a $66,848 expense account, which was used for living and travel expenses.
Viewing Comments 1 - 10 of 35
Feudi Pandola
posted 6/19/08 @ 9:12 AM EST
...and we wonder why the Cost of Attendance for Wharton grad school is up past $72,000 a year?
Alumni
posted 6/19/08 @ 9:22 AM EST
Another example of why we need a Sarbanes-Oxley act for non-profits.
Penn has a rubber stamp board of trustees who is negligent in their oversight of the University, while faculty, staff, and students suffer with more and more cutbacks. (Continued…)
pissed off staff
posted 6/19/08 @ 1:34 PM EST
So while my department has had our budget cut every year of the last 5 even as we are given more work to do, had layoffs, had cost of living increases that do not keep up with inflation, the top of the food chain gets 40% raises? I'm constantly being told that we need to do more with less and find ways to cut costs, and this is why? Disgusting. (Continued…)
J
posted 6/19/08 @ 3:27 PM EST
This is utterly outrageous and a complete waste of Penn's resources. Gutmann may have helped increase the endowment, but she is unpopular with students (as any undergrad will tell you) and does not deserve this money. (Continued…)
lynda
posted 6/19/08 @ 3:39 PM EST
this is nauseating. The rest of the economy is in a downturn, people are losing jobs, working harder than ever and lucky if they get ANY increase, and Gutmann gets a pay hike like that?? What are the trustees thinking??!! I do a great job too, but never in my wildest dreams would I get a raise like that. (Continued…)
Recent graduate
posted 6/19/08 @ 7:01 PM EST
Gutmann speech at this year's commencement was like all of her others: whiny, cliche, and unoriginal. It's a good thing that her salary is tied to fund raising and not her ability to motivate students. (Continued…)
John DeLarro
posted 6/19/08 @ 8:00 PM EST
These are the same people who tell all of the departments on campus, "we have no money to give"...it's the same song every year, and every year as we struggle to feed are families we are givin the scraps from Gutman's table. (Continued…)
student
posted 6/19/08 @ 8:04 PM EST
Give me a break... all of the university staff who are commenting on this are missing the point.
Yes, Gutman's raise was large. Yes, most departments/employees at Penn aren't in nearly the same financial situation. (Continued…)
current human being
posted 6/19/08 @ 8:09 PM EST
I am a human being, Gutman you are not.
Alum '07
posted 6/20/08 @ 10:04 AM EST
Maybe she can put this money toward public speaking lessons - she needs some serious help in that area.
But "student" has a point - this discussion is being obscured by passion. (Continued…)
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