Ranks of millionaire college presidents grow

[Geee]

Fox News:

The club of private college and university presidents earning seven figures is getting less exclusive.

Thirty presidents received more than $1 million in pay and benefits in 2008, according to an analysis of federal tax forms by The Chronicle of Higher Education. More than 1 in 5 chief executives at the 448 institutions surveyed topped $600,000.

Most of the pay packages were negotiated before the full force of the recession. But even if the numbers dip slightly in next year's survey, executive pay is expected to keep climbing over the long term as colleges compete for top talent. And schools are rewarding executives while raising tuition, exposing themselves to criticism.