For the 2007 fiscal year, Senior Vice President for Investments Paula Volent surpassed President Barry Mills as the highest-paid employee at Bowdoin. While Mills' salary increased, it remained lower than that of all but one other NESCAC college presidents.
Information concerning Bowdoin employee salaries was obtained from Form 990, a report that non-profits must file with the Internal Revenue Service. The latest report reflects Bowdoin's spending for the 2007 fiscal year, which began on July 1, 2006, and ended on June 30, 2007.
Volent, who manages the endowment, received $602,853 in compensation and $46,494 in contributions to employee benefit plans, which comes to $649,347 in total compensation. This number represents an increase of $302,510 in total compensation from the previous year.
Mills' $388,144 in total compensation represents an $18,630 increase from the previous year and just over a $100,000 increase over the past five years. His total compensation comprised $340,000 in compensation and $48,144 in benefits, which include health and pension plans. This figure is determined each year by the Board of Trustees.
Though it has not been the case in recent years, Mills' pay was less than that of presidents of both Colby and Bates for the 2007 fiscal year. On Monday, the Chronicle of Higher Education published a compilation of executive pay at all public and private institutions. According to the report, President of Colby William D. Adams received $397,033 in total compensation, while President of Bates Elaine T. Hansen received $404,151. Among NESCAC schools, Mills' pay topped only that of Connecticut College President Leo Higdon Jr., who received $365,000 in pay and benefits.
President of Amherst Anthony Marx and President of Williams Morton Schapiro received $475,026 and $514,744, respectively. President of Middlebury Ronald Liebowitz's pay totaled $465,715.
The Chronicle report listed Bowdoin in the category "baccalaureate colleges?arts & sciences." The category includes all "institutions where bachelor's degrees represent at least half of all undergraduate degrees, those with at least half of bachelor's-degree majors in arts and sciences are included in the 'Arts & Sciences' group." Among the 208 institutions listed in that category, Mills' total compensation is ranked No. 52, down from No. 50 the previous year.
Six additional top-paid employees are listed on Form 990. After Mills, Senior Vice President for Planning and Administration William Torrey received $217,395 in compensation and $45,696 in benefits, which represents a $7,679 increase in total compensation from the previous year.
The fourth-highest paid employee, Senior Vice President for Finance and Administration Katy Longley, earned $217,395 in compensation and $43,166 in benefits, which represents an $8,858 raise in total compensation from the year before.
William Shain, who was the dean of admissions for the 2006-2007 and 2007-2008 academic years and is no longer employed by the College, ranked fifth. He received $230,437 in compensation and $11,916 in benefits for his first year on the job.
Cristle Collins Judd, the dean for academic affairs, and Tim Foster, the dean of student affairs, were the sixth-and seventh-highest paid employees. Judd earned $185,000 in compensation and $12,152 in benefits, while Foster earned $145,000 in compensation and $30,044 in benefits. These figures reflect the pay received by both deans during the first year in their respective positions at the College.