Being the dean of the world’s most prestigious business school isn’t going to make you as rich as the chief executive of a major corporation, but it’s not a bad gig, either.
According to the student newspaper The Harvard Crimson, Harvard Business School Dean Nitin Nohria was the university’s highest paid dean in 2011 with a total compensation package worth $662,054. That sum includes his base salary plus benefits.
Nohria, who may well have made more as a professor due to his consulting assignments, was followed by Medical School Dean Jeffrey S. Flier at $621,373 and Public Health School Dean Julio Frenk at $606,612. Dean of the Faculty of Arts and Sciences Michael D. Smith received a total of $509,613 in salary and benefits.
THE HIGHEST PAID B-SCHOOL DEAN IN THE WORLD? PROBABLY.
In all probability, Nohria’s comp package makes him the highest paid business school dean in the world. He’s also in charge of the largest budget of any business school as well, with $546 million of revenue and nearly $3.5 billion in assets in 2012.
Still, he’s a piker when it comes to the compensations received by officials at the Harvard Management Company, which oversees the University’s $30 billion endowment as well as its other investments.
The Crimson reported that HMC President and CEO Jane L. Mendillo took home $5,323,753 in 2011, while the company’s Head of Alternative Assets Andrew G. Wiltshire received $6,608,581 in total compensation, making him the top earner at HMC that year. HMC’s Head of Public Markets Stephen Blyth, who is also a statistics professor, made $6,161,489.
Harvard University President Drew G. Faust received $899,734 in salary and benefits in 2011.