The figures are in.
For the 2005-2006 academic year, Barry Mills in his fifth year as president received $369,514 in compensation and contributions to employee benefits plans. This number represents a $25,976 overall increase from the year before.
In its third annual report, the Orient has compiled data of the College's highest-paid administrators' compensation.
Presidential compensation data was obtained from the Chronicle of Higher Education's Web site. Information regarding compensation of the other highest-paid employees of the College, available from Form 990, shows that some other employees received significant pay increases for the 2005 fiscal year as well.
Form 990 is a document that non-profit organizations must file with the Internal Revenue Service (IRS). The most recent form contains figures from the 2005 fiscal year, which began July 1, 2005 and ended June 30, 2006.
Mills's total compensation, which consists of a $325,000 base pay and $44,514 in benefits, surpasses that of other Maine college presidents for the 2005-2006 academic year. President of Colby William D. Adams received $298,895 in base pay and $39,167 to total $338,062, and President of Bates Elaine T. Hansen received $257,603 and $73,755 totaling $331,358.
However, Mills's salary and benefits still substantially lag behind those of presidents of other peer institutions. According to data obtained from the Chronicle of Higher Education, for the 2005-2006 academic year, President of Middlebury Ronald D. Liebowitz received $424,988 in base pay and $52,776 in benefits, President of Williams Morton Owen Schapiro received $385,000 in base pay and $89,518 in benefits, and President of Amherst Anthony Marx received $315,894 in base pay and $105,503 in benefits.
Bowdoin's president's compensation is determined by the Board of Trustees.
Data from the Chronicle of Higher Education shows that Mills's base pay ranks 34th among all presidents in the "Baccalaureate colleges, Arts & Sciences" category nationwide. Baccalaureate colleges, Arts & Sciences are defined by the Chronicle as "institutions where bachelor's degrees represent at least half of all undergraduate degrees." The Chronicle ranked Mills's total compensation including benefits at No. 50.
According the Chronicle of Higher Education, the median compensation of leaders of baccalaureate institutions rose 28 percent during the last five years. The Chronicle also reported that 81 presidents of private institutions received more than $500,000 in compensation for the 2006 fiscal year, a number that represents a 200 percent increase over the past five years.
Second to Mills, Senior Vice President for Investments Paula Volent was the highest paid Bowdoin employee for the 2005 fiscal year. Volent's pay, $310,500 in base pay and $36,337 in benefits, totaling $346,837, was up $8,896 from her total compensation the previous year.
Volent, who is one of four people who run the College's endowment, was featured in the New York Times article "How Smaller College Endowments Still Reap Big Returns" in November. The same month, she was named a finalist for an investments management award by Institutional Investor, a print and online publisher of financial news.
Senior Vice President for Planning and Administration William A. Torrey also received a considerable pay raise. For the 2005 fiscal year, Torrey received $212,785 base pay and $42,627 in benefits. His total compensation, $255,412, was $24,483 higher than the year before.
Senior Vice President for Finance and Administration Katy Longley received $211,500 in base pay and $40,203 in pension plan contributions, up from $185,000 in base salary and $37,113 in employee benefit contributions the prior year.
The then Dean of Academic Affairs, Craig McEwen, who now serves on faculty, received $192,065 in pay and $37,005 in benefits. McEwen's total compensation, $229,070, was $14,156 more than during the 2004 fiscal year.
Interim Dean of Admissions Richard Steele (who has since been replaced by William Shain) received $141,333 in pay and $28,521 in benefits to total $169,854.
One professor also ranked among the highest paid employees of the College. Allen B. Tucker , who is the Anne T. and Robert M. Bass Professor of Natural Sciences Emeritus, received $123,711 in base pay and $22,138 in benefits, comprising a total sum of $145,849. Tucker instructs computer science courses.