Vest, Morrow among Highest Paid in 1992By David D. Hsu
The Institute's highest-paid officials earned over $200,000 each in the fiscal year ending June 30, 1993, according to a non-profit organization tax form available to the public.
President Charles M. Vest grossed more than any other MIT employee, with a salary totaling $318,652, according to the Internal Revenue Service's Form 990. Director of Lincoln Laboratory Walter E. Morrow '49, who is a professor of electrical engineering and computer science, earned the next highest salary, with $268,117, according to a report in the Sept. 14 issue of The Chronicle of Higher Education.
Other top earners included Richard J. Thome '66, head of the fusion technology and engineering division of the Plasma Fusion Center, with $266,433; Ronald R. Parker '63, head of the Plasma Fusion Center and professor of EECS, with $253,533; Glenn P. Strehle '58, Institute vice president and treasurer, with $247,728; and Arnoldo C. Hax, professor of management, with $240,812, the report said.
In addition, Vest's predecessor, Chairman of the Corporation Paul E. Gray '54 earned $236,012, and Provost Mark S. Wrighton's earnings totaled $221,392, according to the form.
Health and retirement benefits averaged about 15 percent of employees' total salaries, the report said. The cost of benefit plans is "essentially about the same percentage for all people," Strehle said.
Other school salaries similar
Although President Vest earns well over the average college president's salary of $102,300, he grosses roughly the same salary as presidents of other private research institutions, according to the Chronicle. In comparison, Stanford University's Gerhard Casper earned $358,840, the California Institute of Technology's Thomas E. Everhart earned $350,867, and Harvard University's Neil L. Rudenstine made $264,583, the article said.
In contrast, Boston University President John Silber made more than any other private university president, with $738,963, the Chronicle said.
Although MIT's salaries for highest-paid employees were generally comparable to those at other schools, the highest-earners at some private schools grossed significantly more. At Johns Hopkins University and Georgetown University, for example, the top six officials earned around $500,000; at Stanford, the five most highly paid employees earned nearly this amount, the Chronicle said. Both Columbia and Cornell Universities had three employees who received over one million dollars before benefits, according to the Chronicle.
MIT's 1993 expenditures totaled $1.146 billion, the Chronicle said. This ranks the Institute seventh in expenditures among private research universities.