Harvard University, the world’s richest university, paid President Drew Faust a total of $1.1 million in 2013, including $779,283 in base pay, as well as the value of housing and other benefits. That was a 6 percent increase from the year before.
“It’s the elite being elite,” said Stephen Joel Trachtenberg, president emeritus of George Washington University who has worked as a compensation consultant. “We’re importing aspects of the corporate culture to the academy that weren’t there in the old days.”