Interesting article on NYC private school Heads and compensation

https://www.wsj.com/articles/pay-for-some-new-york-private-school-chiefs-nears-1-million-1516098600?mod=WSJ_NY_LEFTTopStories&tesla=y

@SatchelSF :slight_smile:

There was an article a couple of years ago also about compensation at boarding schools in Business Insider.

The comments (in the comments section) are particularly interesting!

approaching $1M. It’s big bucks. Having 2 students recently matriculated from elite boarding school, I still think it’s too much for what we received.

approaching $1M. It’s big bucks. Having 2 students recently matriculated from elite boarding school, I still thi

There is an education arms race going on among the NYC private schools.

Wow! I remember reading the posting for the head job at PA and it does not pay anywhere near that. I remember thinking it was WAY underpaid. Now I’m sure there could have be negotiations, but it was posted for somewhere around $250,000.

You can use a Form 990 lookup service to locate the compensation of the top officers at most schools (specifically, ones that are organized as non-profits and do not claim a religious exemption), so there is no need to guess. I like this one: http://foundationcenter.org/find-funding/990-finder

The data can be found in “Part VII - Compensation” under “Additional Data” in any given tax return of any particular school.

Just as an aside, the head of PA made about $550K all-in for the latest year available.

Please keep in mind that these august institutions all have commitments to affordability and inclusion, and paying a high school administrator idiotic amounts of money is scientifically proven to be the best way to realize those very, very important commitments to diversity, humility, service, inclusion, education, involvement, intellectualism, truth, justice, the American way. It’s true. Just ask any one of these heads of school!

I’m guessing the cost of living is lower in Andover (and the value of the grace-and-favour home presumably being provided to the head is less) than the Manhattan equivalent.

Hey if board of trustees have no issue paying them top dollars, why should we mortals.

I think a head of school, with responsibility for hundreds of students, and a hundred+ faculty and staff, and who is on 24/7, probably deserves a reasonable fraction of what an investment banker or hedge fund parent should get, no? One is at least performing a role with some social benefit!

Yeah, it does sound like a lot. And yeah, it’s a really hard job. If the head wants to give some part of his salary to charities that matter to him, great, but why should that charity be his employer?

Most Head of Schools are also responsible for a great deal of fundraising and “outreach.” Shaking down 1%ers is not for the faint of heart and a valuable skill that is well compensated at other non-profits. I say the good ones are worth every penny. NMH just lost their very good head to an easier gig. He is going back to be head of his previous day school which does not require the same level of commitment.