Compensation Of College Presidents On The Rise

03:45

December 07, 2015

Columbia University President Lee Bollinger introduces Iranian President Mahmoud Ahmadinejad before he speaks at a forum for world leaders at Columbia University September 24, 2007 in New York City. A new report from the Chronicle of Higher Education showed that Bollinger was the top paid president at a private university. (Spencer Platt/Getty Images)

A survey of earnings of college presidents at 497 private colleges in 2013 reveals that compensation packages continue to rise, up 5.6 percent from the previous year.

The new report by the Chronicle of Higher Education showed the top earner is Lee Bollinger of Columbia University, with compensation totaling $4.6 million, followed by the University of Pennsylvania President Amy Gutmann, who received over $3 million.

Jill Schlesinger of CBS News talks with Here & Now's Jeremy Hobson about who's earning what and what's included in the compensation.

See the list of what college presidents get paid

Guest

Jill Schlesinger, business analyst with CBS News. She tweets @jillonmoney.

This segment aired on December 7, 2015.