Highest paid college presidents

NEW YORK (CNNMoney.com) -- Running a university or college can make for 20-hour days and intense pressure to please a long list of factions from donors, board members and alumni to faculty, students and parents.

But the job is well paid.

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In its annual survey, the Chronicle of Higher Education found that 112 chiefs pulled down at least $500,000 among 853 public and private schools. That's up from 73 last year.

The jump was most pronounced among public university presidents -- 42 of whom earned at least $500,000, nearly double the 23 counted last year. A large portion of public-university leaders' compensation comes from public coffers such as taxpayer money and federal grants, while the rest may come from fundraising, tuition and other private sources.

Last year, compensation at private colleges broke the $1 million barrier for the first time, with 5 presidents earning at least that amount - there was no change in the number this year.

At public universities, the biggest compensation package fell just shy of the million-dollar mark. The University of Delaware's David Roselle earned $979,571 in pay and benefits. His base salary -- $729,054 -- is also the highest among public university leaders.

No. 2 on the list -- Martin Jischke of Purdue University, who made $880,950 in pay and benefits -- had the distinction of earning the biggest bonus ($400,000) among his peers on the list.

Jischke's bonus alone tops the compensation of the majority of public university presidents, who earn between $300,000 and $399,000, according to the Chronicle.

Of course, some of the folks who made the list of top 10 highest paid leaders at public and private schools had unusually large payouts because they were collecting deferred compensation -- such as Audrey Doberstein, who recently retired from Wilmington College. The majority of her $2.7 million package was retirement pay that she earned during her 26-year tenure.

The growth in college executive compensation is compared by many to the trend in corporate executive compensation and to a move toward a business model in the running of universities, for better or worse.

Patrick Callan, president of the National Center for Public Policy and Higher Education, told the Chronicle that at public universities the move toward higher pay can erode public confidence, especially when highly paid presidents make a plea for more state money.

Below are lists of the top 10 highest paid leaders at public universities, private research universities and private baccalaureate colleges.