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Compensation Trends in Higher Education

Compensation Trends in Higher Education. Rian Yaffe Senior Consultant Chairman & CEO. Saundra Tracy Senior Consultant Immediate Past President, Alma College. Topics. Salary Trends Benefits & Perquisites Deferred Compensation Outlook for 2011/12. 2010/11 Survey participants.

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Compensation Trends in Higher Education

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  1. Compensation Trends in Higher Education

  2. Rian Yaffe Senior Consultant Chairman & CEO Saundra Tracy Senior Consultant Immediate Past President, Alma College

  3. Topics • Salary Trends • Benefits & Perquisites • Deferred Compensation • Outlook for 2011/12

  4. 2010/11 Survey participants Executive Compensation Survey 2010/11 n= 193 27% of the Presidents who responded were women

  5. Compensation TrendsMedian Base SalariesYear over Year TrendsVariable Pay Awards

  6. Base Salary Data:President • Median Base Salary 2009/10: $250,000 • Median Base Salary 2010/11: $251,500 • Median Increased: 0.6% • Median Increase for Same Incumbents: 2.3% • 37% of presidents reported frozen salaries • Of those who received an increase, median increase was 4.2%

  7. Presidential Salary Changes(same incumbents 2009/10 to 2010/11)

  8. Base Salary Data: Provost • Median Base Salary 2009/10: $150,000 • Median Base Salary 2010/11: $151,500 • Median Increased: 1.0% • Median Increase for Same Incumbents: 2.5% • 23% of provosts reported frozen salaries • Of those who received an increase, median increase was 3.1%

  9. Base Salary Data: CFO • Median Base Salary 2009/10: $138,795 • Median Base Salary 2010/11: $151,208 • Median Increased: 8.2% • Median Increase for Same Incumbents: 3.6% • 17.3% of CFOs reported frozen salaries • Of those who received an increase, median increase was 4.7% Yaffe & Co. Survey: Exec Comp, 2010/11

  10. Median base Salaries2007 to 2010 Since 2007, median salaries for Presidents have increased 12.3% Since 2007, median salaries for Provosts have increased 11.4% Since 2007, median salaries for CFOs have increased 11.7%

  11. Median base SalariesChief Officers

  12. Presidents Eligible for Variable Pay

  13. Variable Pay Awardspresidents 2010/11 Survey Eligible: 32% Median of Max Opportunity: 20% Received: 64% Median Received: $25,000

  14. Provosts Eligible for Variable Pay

  15. Variable Pay AwardsProvosts 2010/11 Survey Eligible: 19% Median of Max Opportunity: 25% Received: 58% Median Received: $10,000

  16. CFOsEligible for Variable Pay

  17. Variable Pay AwardsCFO 2010/11 Survey Eligible: 19% Median of Max Opportunity: 12.5% Received: 72% Median Received: $8,000

  18. Median CompensationBase Salary + Variable Pay Since 2007, median cash comp for Presidents have increased 13.1% Since 2007, median cash comp for Provosts have increased 11.0% Since 2007, median cash comp for CFOs have increased 13.3%

  19. Deferred Compensation

  20. Age DistributionPresidents Median Age: 61

  21. Presidents aged 65 and over

  22. Percent provided Tax Sheltered Annuity Plan 403(b)

  23. Percent SERP provided 2006 – 2010

  24. SERP Contribution as Average Percent of SalaryPresident

  25. Perquisites

  26. HousingPresidents • Housing Provided: 56% • Allowance Provided: 22% • Median Monthly Allowance: $2,500

  27. AutomobilePresidents • Automobile Provided: 72% • Allowance Provided: 19% • Median Monthly Allowance: $643

  28. Have a Process

  29. New Form 990 Revamped by IRS because they wanted more information from non-profits Number of non-profits has exploded since the form was last updated in 1979 Concerned many non-profits are not living up to benefits of tax-exempt status Helps IRS understand how an organization is structured and governed IRS believes that forcing non-profits to disclose will get them in line:“A tax compliant organization is a well-governed organization” Steven Miller, IRS Commissioner

  30. Rebuttable Presumption of Reasonableness • Independent Board Committee • Appropriate Comparability Data • Process Documentation

  31. Compensation Approval process • President Compensation & Benefits: approved by Executive Committee or Board • VP Compensation & Benefits: approved by Compensation Committee

  32. Penalties for Knowing Approval of Excessive Compensation • Intermediate Sanctions (either in addition to or instead of revocation of tax-exempt status) • Repayment of excess plus 25% excise tax for Executive • 10% up to $20,000 jointly or severally for Board/ Committee Members

  33. Outlook for 2011/12

  34. Questions ? Saundra Tracy 410-494-4109stracy@yaffeco.com Rian M. Yaffe410-494-4111ryaffe@yaffeco.com

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