Over the past few years, students at Florida public colleges and universities have been subjected to frequent tuition hikes, state budget cuts and reduced classes that have directly or indirectly hampered their higher education.

But none of these factors seem to have affected the college presidents' salaries with hefty bonuses, car allowances and other perks.

According to reports by The Chronicle of Higher Education and Florida's Office of the Chief Inspector General, University of Florida President Bernie J. Machen earned $834,562 in the 2012 fiscal year. This six digit salary secured him the first rank in the state and the 9th spot in the list of highest-paid public university presidents.

The salaries for university presidents are paid in combination of money collected from taxpayers and private sources.

Machen's compensation was 55 percent higher than the previous year, wherein he earned $539,007.

However, when compared to his colleagues on campus, Machen takes the second place behind men's basketball coach, Billy Donovan, who draws a salary of $3.3 million.

Next university president on the list is former Florida A & M University President, James Ammons, who earned $781,024, taking the 11th place in the overall list. His tenure as president at the university was marked by many scandals and controversies including the hazing death of a student band member.

Both Machen and Ammons apparently also received lump sums in bonus. Machen took $300,000 in bonus pay while Ammons received $341,250 as severance pay. In 2008, Machen donated his bonus amount to a state scholarship program.

The third and fourth ranks belong to John C. Hitt of the University of Central Florida and Judy Jen Shaft of the University of South Florida-Main Campus with $723,830 and $685,429 respectively. Countrywide, these two presidents are placed at 15th and 22nd ranks.

Mark B. Rosenberg of Florida International University, who is ranked 50th nationally, is the fifth highest paid Florida president. He draws $594,137 that includes his compensation and base pay ($496,612).

If the public universities are not taken into consideration, Miami Dade College President, Eduardo Padrón, actually earns more than Rosenburg with $630,157. Padron's compensation is more than any other public college presidents. His pay package features $11,451 annual car allowance and a $48,000 housing allowance.