The Inquirer reported last week that Amy Gutmann PhD will collect $2 million this year as President of the University of Pennsylvania, where energetic fundraising from the school's successful alumni has peaked on her watch. That's a big raise over her previous pay, noted the campus Daily Pennsylvanian -- but Penn trustees chairman David L. Cohen, a Comcast executive, called the raise"very much performance driven." To put that in context, Gutmann earns more than the bosses of Harvard or Princeton, but 40% less than the head of Penn's health system, Ralph Muller.
But that's not all Gutmann has to take home each year. An Ivy League presidency can be entree to the corporate director class, as Gutmann's predecessor, Judith Rodin (of the Citigroup, Comcast and American Airlines boards) shows. Since joining the boards of Vanguard Group mutual funds in 2006, Gutmann "has been paid almost $1.2 million in fees," Daniel P. Wiener, publisher of the Independent Adviser for Vanguard Investors newsletter, tells me, after checking piles of SEC filings.