Benjamin Ladner walked away from American University Monday night -- with millions of dollars.
Ladner -- president for 11 years -- was fired this month by American University's Board of Trustees amid reports of profligate spending. For the last two weeks, Ladner and board members have negotiated the financial terms of his departure, with faculty members and students expressing outrage over reports that he would receive a multi-million dollar settlement.
Every Stanford University employee will get a little wealthier next week.
To a brief silence, and then thunderous applause at a staff-appreciation lunch, President John Hennessy announced Tuesday that all 11,000 full and part-time faculty and staff members will get a $250 bonus next month for their "tremendous effort," which led to “a very successful year.”
Nobody wants to be the next American University. After weeks with its now ex-president, Benjamin Ladner, under a barrage of fire for his lavish spending habits and benefits package, universities are making sure that they don’t face similar vulnerabilities.
Given all the publicity in Washington over American, it’s not surprising that George Washington University is among those institutions, creating a new position to monitor executive compensation and conducting an in-depth audit.
Administrators' raises are getting larger again. The median salary increased by 3.5 percent during this academic year, compared to a 3.3 percent last year and a 2.5 percent increase the previous year. The 3.5 percent increase equals that of 2002-3.
The data are from an annual survey conducted by the College and University Professional Association for Human Resources, which has been releasing annual data on administrative salaries since 1967 and released the latest information today.