The most recent list of Fairfield University’s highest paid employees shows the usual vice-presidents and a dean.
Michael Tucker, finance professor, is listed as fifth on the list, which makes him the highest paid professor at the University.
Tucker, who received a total compensation of $141,199 in 2003-2004, found himself in exalted company, along with Vice-President of Advance, George Diffley, $165,740; Vice-President of Academics, Orin Grossman, $159,381; Dean of the School of Business, Norm Solomon, $148,900; and the Vice-President of Information Services, James Estrada, $143,300.
Tucker declined to comment on his salary, saying he wanted to wait until January to discuss it.
According to the American Association of University Professors, Fairfield University reported full-time professors received a contracted salary average of $92,400 per year.
For a salary with benefits, the average increases to $124,500.
“Due to the shortage of business professors, there is a higher demand and higher salary for business professors,” Grossman said.
“Professors’ salaries are awarded based on a merit system consisting of research, involvement, and ability to teach,” Solomon said.
There are also other ways professors can earn extra money through teaching an extra class, engaging in a research grant, or by consulting outside through Fairfield University.
Fairfield President Jeffrey von Arx took his position in mid-2004 and therefore did not make the list of top five highest paid employees.
The list is mandated by the U.S. Internal Revenue Service as part of an annual filing by non-profit coporations.
“Tucker is a senior professor who goes beyond the classroom and textbook to create many real life simulations such as the Business Education Simulation and Trading (BEST) program, and the Haitian Bakery project,” said Gregory Koutmos, a finance professor.
Other business school professors seemed to want to join Tucker in the ranks of highest paid, instead of envying him for his status.
Among the finance professors, there is no resentment toward Tucker; instead there is a sense of happiness and encouragement.
“All professors start with a base salary and thereafter stipends are given for additional works,” said Gregory Koutmos, a finance professor.
Students seemed split.
“As a student of Professor Tucker, I feel that he is a strong teacher, but it is still unclear why there is a such a big gap between his compensation and that of other professors, whether it is in the business school or other schools on campus,” said Smita Balakrishna ’06, a finance major.
“As a liberal arts major, I hope that professors in the College of Arts and Sciences have the opportunity to make that much,” said Anthony Del Aversano ’06, an art history major.
Leave a Reply