Papadakis amongst highest paid in entire nation
Daniel Silva
Issue date: 10/7/05 Section: News
Compensation for each of the University's top officers and directors calculates to well over $200,000 for the fiscal year 2003-04 according to the most recent income tax return filings provided by the Internal Revenue Service.
University President Constantine Papadakis is paid $689,980 plus over $110,000 in benefits, for a total compensation of approximately $805,000.
"I can't believe Papadakis makes that much," Stephanie Driver, a sophomore marketing student, said. "That's ridiculous for Drexel."
In 2004, the Chronicle for Higher Education ranked Papadakis as the sixth highest paid university president ranking William Brody of John Hopkins University first with a compensation package of $897,786. Also high in the rankings were Judith Rodin of the University of Pennsylvania with $893,213 and Gordon Gee, chancellor of Vanderbilt University, with $877,209; both ranked second and third, respectively.
The highest paid university presidents all belong to the nation's most selective universities, including the Ivy League. The University, although climbing in the U.S. News and World Report rankings, is still considered to be within the same peer group as other universities in the top 10 standings.
"I think Papadakis should put half of his salary back into the school," said Gabe Chesman, a sophomore communications student. "There's still a lot more to be done. They need to step it up."
The rationale behind paying university presidents such high amounts is that they provide a great service to the university and are the leaders of the university like CEOs of their respective organizations. Most highly paid university presidents, including President Papadakis, have to manage multi-million dollar organizations.
"If students knew what exactly Papadakis does, then maybe they wouldn't think he's overpaid," Will Macaleuso, a sophomore digital media student, said.
There are several other officers and directors in charge of keeping the University functioning smoothly including Senior Vice President for Finance and Treasurer and CFO Thomas Elzey, who receives approximately $403,000 compensation; Senior Vice President for Student Life and Administrative Services Anthony Caneris, with $335,615 and former Senior Vice President for Institutional Advancement Barbara Spiro, with $348,000. Other officers and directors not aforementioned above all receive over $230,000 in compensation.
University President Constantine Papadakis is paid $689,980 plus over $110,000 in benefits, for a total compensation of approximately $805,000.
"I can't believe Papadakis makes that much," Stephanie Driver, a sophomore marketing student, said. "That's ridiculous for Drexel."
In 2004, the Chronicle for Higher Education ranked Papadakis as the sixth highest paid university president ranking William Brody of John Hopkins University first with a compensation package of $897,786. Also high in the rankings were Judith Rodin of the University of Pennsylvania with $893,213 and Gordon Gee, chancellor of Vanderbilt University, with $877,209; both ranked second and third, respectively.
The highest paid university presidents all belong to the nation's most selective universities, including the Ivy League. The University, although climbing in the U.S. News and World Report rankings, is still considered to be within the same peer group as other universities in the top 10 standings.
"I think Papadakis should put half of his salary back into the school," said Gabe Chesman, a sophomore communications student. "There's still a lot more to be done. They need to step it up."
The rationale behind paying university presidents such high amounts is that they provide a great service to the university and are the leaders of the university like CEOs of their respective organizations. Most highly paid university presidents, including President Papadakis, have to manage multi-million dollar organizations.
"If students knew what exactly Papadakis does, then maybe they wouldn't think he's overpaid," Will Macaleuso, a sophomore digital media student, said.
There are several other officers and directors in charge of keeping the University functioning smoothly including Senior Vice President for Finance and Treasurer and CFO Thomas Elzey, who receives approximately $403,000 compensation; Senior Vice President for Student Life and Administrative Services Anthony Caneris, with $335,615 and former Senior Vice President for Institutional Advancement Barbara Spiro, with $348,000. Other officers and directors not aforementioned above all receive over $230,000 in compensation.
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