Spring Break
Board of Trustees Approves Caputo's Salary Increase
Laura Senkevitch
Issue date: 9/20/06 Section: News
Along with the required meal plan cost, the price of student housing, and the University's endowment, President David A. Caputo's salary also has increased for the 2005-2006 fiscal year.
Caputo's salary increase, which was confirmed by Vice President of University Relations Dough Whiting and Board of Trustees Chair Anneilo Bianco, cannot be legally disclosed until next year, when taxes are filed, because it is a "locked document."
According to Whiting, Caputo's gross salary for the 2004-2005 fiscal year amounts to $594,877 with benefits totalling to $77,362 for a grand total of a compensation worth $672,239. This is an increase from the 2003-2004 fiscal year in which his gross salary was $505, 351, with a benefits package of $71,060 for a total salary of $561,411.
Caputo's salary is determined by the presidential compensation committee on the Board of Trustees which comprises of Annielo Bianco, Mike O'Reilly, James E. Healy and Cynthia Greer Goldstien.
Bianco, a Lubin School of Business alumni, who was appointed to the board when he was 29 years old by former president Edward Mortola, said the president's salary is determined by the "pay of other (university) presidents in Greater New York" as well as a "process of goal setting" and evaluations that he would not further describe. The details of these evaluations are "between the Board and the president," Bianco said.
Some universities the board uses as a comparison when determining proper compensation include New York University, who's president John E. Sexton received a total compensation package of $888,120, and New School University, whose president J. Robert Kerrey was compensated $542,450 in the 2004-2005 fiscal year, according to a special report to AMNY by Patrick Verel.
President Caputo said, he "do(es) not suggest a pay raise." Each spring, Caputo meets with the compensation committee and "submit(s)…a new set of goals and objectives" and "discusses past goals," so the committee can determine his progress and assign a proper salary.
"There's nothing sinister about (the process)," Caputo said.
Chris Cory, executive director of public relation, said President Caputo would not comment on his total compensation for the 2005-2006 fiscal year for reasons concerning "etiquitte."
"He won't say…because it's just not what (he) should do," Cory added, further explaining his etiquitte comment.
When asked if any of the four members on the presidential compensation committee have any experience in academia outside of their positions on the board, Bianco, who along with being a Board of Trustees member, is also the managing director of Chadbourne and Park, an international law firm, responded "No, we're all business people."
Caputo's salary increase, which was confirmed by Vice President of University Relations Dough Whiting and Board of Trustees Chair Anneilo Bianco, cannot be legally disclosed until next year, when taxes are filed, because it is a "locked document."
According to Whiting, Caputo's gross salary for the 2004-2005 fiscal year amounts to $594,877 with benefits totalling to $77,362 for a grand total of a compensation worth $672,239. This is an increase from the 2003-2004 fiscal year in which his gross salary was $505, 351, with a benefits package of $71,060 for a total salary of $561,411.
Caputo's salary is determined by the presidential compensation committee on the Board of Trustees which comprises of Annielo Bianco, Mike O'Reilly, James E. Healy and Cynthia Greer Goldstien.
Bianco, a Lubin School of Business alumni, who was appointed to the board when he was 29 years old by former president Edward Mortola, said the president's salary is determined by the "pay of other (university) presidents in Greater New York" as well as a "process of goal setting" and evaluations that he would not further describe. The details of these evaluations are "between the Board and the president," Bianco said.
Some universities the board uses as a comparison when determining proper compensation include New York University, who's president John E. Sexton received a total compensation package of $888,120, and New School University, whose president J. Robert Kerrey was compensated $542,450 in the 2004-2005 fiscal year, according to a special report to AMNY by Patrick Verel.
President Caputo said, he "do(es) not suggest a pay raise." Each spring, Caputo meets with the compensation committee and "submit(s)…a new set of goals and objectives" and "discusses past goals," so the committee can determine his progress and assign a proper salary.
"There's nothing sinister about (the process)," Caputo said.
Chris Cory, executive director of public relation, said President Caputo would not comment on his total compensation for the 2005-2006 fiscal year for reasons concerning "etiquitte."
"He won't say…because it's just not what (he) should do," Cory added, further explaining his etiquitte comment.
When asked if any of the four members on the presidential compensation committee have any experience in academia outside of their positions on the board, Bianco, who along with being a Board of Trustees member, is also the managing director of Chadbourne and Park, an international law firm, responded "No, we're all business people."
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