Jan 18, 2010 10:39 AM by Associated Press
A new survey says chief executives of colleges and universities are feeling the effects of the recession in their paychecks.
The survey by the Chronicle of Higher Education suggests a string of large annual pay increases for school presidents is coming to a halt. The survey showed compensation packages of chief executives at public schools leveling off in 2008-2009, rising a relatively modest 2.3 percent.
Over the previous six years, annual pay increases of 10 percent or more had become the norm.
Cuts in state funding and tuition increases, along with fears of a backlash over perceived high salaries are trumping - at least for now - the argument that public schools need to pay top dollar for top talent.