In a survey of 419 private colleges by The Chronicle of Higher Education, 23 private college presidents earn over a million dollars a year. The highest-paid private college president, Shirley Ann Jackson of Rensselaer Polytechnic Institute, earns about $1.6 million annually with benefits.

These presidents make so much because they were fortunate enough to have their salary packages determined prior to the start of the recession. Some presidents are able to negotiate their salaries, and if a president can negotiate a higher salary. More power to them, right? Wrong!

The current national unemployment rate is 10.2 percent. With so many people out of work, it’s a little ridiculous that some private college presidents are making that much money, especially since many schools are suffering from pay and program cuts in other areas. Their salaries raise concern and need to be justified. What do these presidents actually do?

“The major job of any president is fundraising,” said Guilford President Kent Chabotar. “The second job is obviously running the institution.”

Chabotar said that he spends anywhere from a third to half of his time doing fundraising for Guilford.

Interestingly enough, many of these presidents aren’t using all of their money. According to The New York Times, some put parts of their salary towards funding scholarships while others are freezing their pay, or taking pay cuts.

Even with presidents taking pay cuts or freezing their pay or funding scholarships, tuition is rising at many colleges. Fifty-eight private colleges are charging over $50,000 annually for tuition, fees and room and board. Guilford only charges around $38,000 a year for the same things.

Chabotar makes $339,755 a year, including $89,755 in benefits. Chabotar’s salary is actually below the $627,750 median compensation of the 419 private schools surveyed. Chabotar hasn’t taken a salary increase in three years, either.

“The next raise that everybody’s getting except me is January 1,” Chabotar said. “I’ve waived it, I don’t want a raise. The earliest I’ll get a raise is the next fiscal year: July 1. I don’t need the money and the college does. If I don’t need it, why take it?”

We’re lucky to be attending a private school that isn’t charging an arm and a leg per semester, not to mention one that is run by a president who puts the college first financially. Chabotar’s willingness to sacrifice a higher salary for the greater prosperity of Guilford is commendable. If only more private schools’ presidents had Chabotar’s