Top 10 Highest Paid Private College Presidents; Why Harvard's Leader Is Nowhere Close To Top

Private school presidents' salaries continue to rise, but that of Harvard's leader has remained below the median figure, despite the institutions financial wealth.

According to data released by the Chronicle of Higher Education, Drew Gilpin Faust's, president of Harvard, annual salary is $899,734. The median salary for her peer group is $1,234, 749. Gilpin's salary is also well out of the top ten and less than a third of the nation's highest-paid private school president. Because of Harvard's consistently high-ranking endowment funds (run by people making around $5 million per year) Gilpin is one of the "least-well-compensated" presidents on the list.

As many have pointed out even before Gilpin's tenure, putting "President of Harvard" on a resume can lead to future job opportunities that more than make up for the salary.

42 presidents of private institutions were compensated with a salary of at least one million dollars, which is an increase from 36 last year.

Robert J. Zimmer, of the University of Chicago, earns $3,358,723 in total compensation, but 40 percent of that comes from deferred compensation. Here are the rest of the ten most well paid private college presidents.

10. Richard C. Levin (recently retired)

School: Yale University

Total Compensation: $1,652,543

Time Served as President: 18 years

9. Shirley Ann Jackson

School: Rensselaer Polytechnic Institute

Total Compensation: $1,752,642

Time Served as President: 12 years

8. Esther L. Barazzone

School: Chatham University

Total Compensation: $1,812,132

Time Served as President: 19 years