Quinnipiac University President John Lahey earned $3.76 million in 2012 — the second-highest salary among his U.S. peers at the 500 private colleges with the largest endowments, according to the Chronicle of Higher Education.
That put Lahey well ahead of Yale’s Richard C. Levin, who had the second highest pay that year ($1.38 million), and the 10th highest in the country, according to the publication’s annual ranking.
In third place in Connecticut was Trinity College’s James F. Jones Jr., with $1.1 million. Jones left Trinity over the summer for another job. University of Hartford’s Walter Harrison was fourth in the state, at just over $1 million.
Lahey’s high-ranking pay was due to his retirement plan fully vesting in 2012, when he had 25 years of service, a QU spokeswoman told the New Haven Register.
The plan’s vesting requires Lahey to report the full amount and pay the full tax on the plan, the Register said. Lahey’s reported pay in 2011 was $1.2 million, according to the Chronicle.
A QU spokesman confirmed that information Monday morning.
No Connecticut college presidents in the ranking have as many years of service as Lahey. Levin is closest behind, with 19.
A U. Hartford spokeswoman said Monday that Harrison’s 2012 salary included nearly $487,000 in deferred compensation contractually required because he completed a seven-year employment contract.
