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2010 Top Salaries at MIT

2010 Base

2010 Paid

2010 Total

2009 to 2010

2008 to 2009

Name

Title

Compensation

Compensation

Compensation

%

%

Seth Alexander

MITIMCO President

$522,426

$1,260,427

$1,316,463 †

+20%

$214,794

+18%

$158,807

Susan J. Hockfield

President

$652,129

$832,629

$1,006,969 *

+5%

$75,366

+1%

$4,536

David C. Schmittlein

Dean of Sloan School

$578,317

$716,442

$761,621

-0%

-$2,281

-6%

-$47,628

Nelson Repenning

Professor, Sloan School

$103,127

$670,880

$714,284 ‡

-8%

-$38,911

+3%

$22,686

Daniel Steele

MITIMCO, Private Equity

$304,629

$628,356

$690,825 †

-6%

-$40,088

+21%

$117,737

Steven C. Marsh

MITIMCO, Real Estate

$303,320

$627,047

$688,393 †

-7%

-$44,015

+23%

$124,393

Donald R. Lessard

Professor, Sloan School

$261,185

$606,436

$695,337 ‡

did not meet 2008 reporting threshold

L. Rafael Reif

Provost

$487,168

$556,914

$638,527 *

+5%

$23,730

+3%

$16,457

Theresa M. Stone

Executive Vice President

$493,102

$542,655

$606,665 *

+7%

$35,933

-3%

-$13,363

R. Gregory Morgan

General Counsel

$466,801

$529,601

$597,124

+1%

$6,593

+4%

$20,096

Jeffrey Newton

VP, Resource Dev.

$367,502

$379,465

$445,514

+1%

$4,142

+3%

$10,702

Eric D. Evans

Director, Lincoln Lab

$364,032

$375,472

$432,642

+3%

$16,607

+4%

$14,158

Claude R. Canizares

VP for Research

$291,114

$323,756

$403,078 *

+2%

$1,963

+3%

$8,397

Phillip L. Clay

Chancellor

$275,307

$306,718

$396,717

-0%

$9,038

-6%

-$18,285

Eric L. Grimson

EECS Dept. Head

$229,029

$249,827

$319,843

did not meet 2008 reporting threshold

Kirk D. Kolenbrander

Corp. Secretary

$231,784

$231,784

$292,145

+2%

$6,694

+12%

$24,705

John S. Reed

Corp. Chairman

$142,783

$142,783

$176,633 §

did not meet 2008 reporting threshold

Dana G. Mead

Corp. Chairman

$122,685

$122,821

$122,821 §

-50%

-$179,749

-2%

-$4,586

This data is for calendar year 2010, from Jan. 1, 2010 through Dec. 31, 2010, and comes from MIT’s IRS Form 990, the tax return for non-profits, which was filed May 15, 2012 for tax year 2010.

“Base compensation” is “nondiscretionary payments to a person agreed upon in advance, contingent only on the payee’s performance of agreed-upon services (such as salary or fees),” from column B(i) of Schedule J Part II of the form.

“Paid compensation” is the “reportable compensation from the organization (W-2/1099-MISC)” column from Part VII Section A of the 990. “Total compensation” includes that as well as “retirement and other deferred compensation” and “nontaxable benefits” from column E of Schedule J Part II of the form.

The percentage changes (% columns) are based on paid compensation, but the differences (∆) are based on total compensation.

Form 990 includes compensation to current and former “officers, directors, trustees, and key employees” as well as “the five current highest compensated employees,” of which Donald R. Lessard is the lowest-compensated. Therefore, the list beneath Lessard is not comprehensive.

† MIT Investment Management Company (MITIMCo) employees compensations do not include incentive compensation which “could have increased or decreased depending on the performance of the endowment” and are contingent on continued employment by MIT.

* Four MIT officers served as directors of outside companies and receive substantial fees for doing so. See separate table.

‡ Professors Repenning and Lessard appear because of their participation in the Sloan School of Management’s Executive Education program (see http://mitsloan.mit.edu/execed). Repenning is faculty director of the BP Operations Academy

§ John S. Reed took over as Chairman of the MIT Corporation from Dana G. Mead in July, 2010. Each served for half of a term, and their compensation reflects that.