Wake Forest’s President Nathan O. Hatch was paid $4 million dollars to lead the University in 2015, which made him the highest paid university president in the country.
This $4 million figure is misleading, however, due to the way that Hatch’s retirement plan was reported to the IRS. Hatch’s base salary was $839,944 in 2015 and he also received $92,000 in bonuses. The $3,009,376 from that year marked as “other” compensation is ten years worth of contributions to Hatch’s retirement plan, which were only reported in the year of full vesting.
This data came from a survey of 500 schools released Sunday by The Chronicle of Higher Education. Their findings show that as college tuition continues to rise above the pace of inflation, so do the salaries of University leaders. In a statement, Wake Forest Board of Trustees Chair Donna Boswell defended Hatch’s value to the University.
“President Hatch’s compensation over the course of his tenure reflects his exceptional leadership,” Boswell said in a statement Sunday. “He has seen Wake Forest through a transformational period that includes achieving the largest fundraising effort in the University’s history….Not a day goes by that I do not appreciate the Board of Trustees’ vision for Wake Forest and their confidence in Dr. Hatch’s ability to lead us through such a successful period in the life of our beloved University.”