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Compensation includes regular salaries as well as deferred compensation from prior years; it does not include contributions to employee benefit plans, which we have included in this chart in prior years.
This data is for July 1, 2007 through June 30, 2008 (MIT’s fiscal year 2008, IRS tax year 2007). IRS Form 990 includes compensation to current and former “officers, directors, and trustees” as well as the “five highest paid employees” (§). Therefore, the list beneath Martin Kelly is not comprehensive.
The percent change (%) and difference () are calculated from prior year’s forms.
Appears in list of top five [non-officer] salaries.
* Seth Alexander’s compensation includes $267,500 of incentive compensation reported as deferred compensation in prior years’ 990 forms. Steve Marsh’s compensation includes $216,145 of such, Philip Rotner’s includes $214,240, Daniel Steele’s includes $212,381, and Martin Kelly’s includes $188,874.
** Professor Lessard has a children’s educational loan with a balance as of June 30, 2008 of $47,843. His $597,154 includes income from “executive education,” he said.
† R. Gregory Morgan has a $200,000 mortgage loan with a balance as of June 30, 2008 of $200,000.
‡ Chancellor Clay has a children’s educational loan with a balance as of June 30, 2008 of $5,000.
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Name Title FY08

Compensation

FY07 to FY08 FY06 to FY07
% (delta) % (delta)
Seth Alexander President of MITIMCo $795,960 * 165% $313,141 795% $422,125
Susan Hockfield President $695,435 109% $60,141 109% $51,744
Donald Lessard Professor — Sloan School $597,154 §** 102% $13 ,395 109% $50,122
Steve Marsh MITIMCo, Real Estate $571,152 §* 128% $125,658 133% $110,404
Philip Rotner MITIMCo, Private Equity $553,703 §* 126% $115,744 124% $85,147
Daniel Steele MITIMCo, Private Equity $550,933 §* 128% $121,508 124% $83,700
Rafael Reif Provost $507,449 111% $49,071 112% $48,984
Theresa Stone Executive Vice President $502,496 207% $260,261
Martin Kelly MITIMco, Private Equity $496,316 §* 131% $117,416
R. Gregory Morgan General Counsel $464,103 233% $264,636
Jeffrey Newton VP, Resource Dev. $357,130 356% $256,829
Joel Moses Past Provost $351,028 105% $16,874 101% $2,834
Philip Clay Chancellor $312,078 ‡  109% $25,968 114% $34,458
John Deutch Past Provost $302,420 106% $16,300 101% $1,792
Paul Gray Past President $301,724 270% $189,924 104% $4,480
Dana Mead Corp. Chairman $247,904 105% $12,269 104% $8,955
Kathryn Willmore Past Corp. Secretary $222,800 100% -$280 100% -$570
Kirk Kolenbrander Corp. Secretary $208,000 114% $26,000 $182,000
Howard Johnson Past President $39,530 100% $0 100% $0