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The University of Chicago has consistently shown that it promotes freedom of expression and discourages “safe spaces” for students.
And it pays its leaders handsomely to protect that image.
President Robert Zimmer received $3.23 million in total compensation, according to the private university’s newly released Form 990 for fiscal year 2016, highlighted by The Chicago Maroon.
That includes more than $1 million in base compensation, $1.63 million in bonuses and incentive pay, $368,000 in retirement and deferred compensation, and nearly $143,000 in nontaxable benefits.
Chief Investment Officer Mark Schmid was close behind with $2.95 million total: $657,000 base, $1.46 million bonus/incentive, and a whopping $758,000 retirement/deferred – more than a quarter of the total.
The last of the multimillion-dollar earners is Kenneth Polonsky, executive vice president of medical affairs. His $2.05 million payment is structured largely as base pay ($1.57 million) and bonus/incentive ($420,000).
Another eight officials earn more than $500,000: Provost Eric Isaacs ($875,000), Chief Financial Officer Rowan Miranda ($807,000), Chief Human Resource Officer Richard Iorio ($733,000), General Counsel Kimberly Taylor ($712,000), VP of Alumni Relations Kenneth Manotti ($644,000), Executive Vice President David Fithian ($605,000), VP of Enrollment James Nondorf ($588,000) and Vice President of Civic Engagement Derek Douglas ($555,000).
Two more are in the mid-$400,000s: VP of Communications Julie Peterson and VP for Research Donald Levy. Former counsel Beth Harris got $913,000 just in severance, while Iorio received another $678,000 when he left the school.
The Maroon notes that while these salaries blow away faculty, they aren’t exactly hurting for money. Full professors average $225,000, and even those with the fewest duties, lecturers (former President Barack Obama’s title at the law school), average $60,000.
The university also paid nearly $8 million in investment management fees. According to the Maroon, these went to firms “founded and/or managed by several trustees.”
And for the cherry on top: Five UChicago officers were granted the right to fly first class using university money. For the sake of comparison, the Maroon says Harvard let two of its officers fly first class on the university dime the previous fiscal year.
Read the Maroon report and tax filing.
MORE: UChicago tells freshmen it doesn’t do ‘safe spaces’
IMAGE: Carlos Yudica/Shutterstock
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