Education professionals always earn significantly less than what they could earn in the business world or in other professions. That is a fact.
Headmasters of not for profit independent schools are no exception. When you consider the enormous expectations made of these dedicated individuals, most headmasters' compensation is far below comparable levels in other fields. How far below? Significantly! The average compensation of the top 500 CEO's is in the millions according to Executive Paywatch. Headmasters' compensation averages about $200,000.
On the other hand many headmasters earn more than some public school superintendents do. The average salary without benefits for a superintendent is $160,000. Now, college presidents by contrast make significantly more than private school headmasters. They average about $400,000 with a dozen or so well over $1,000,000 in annual compensation.
Compensation Information Sources
The Form 990 which a non-profit school files is similar to a tax return. It contains the information about headmasters' compensation. Unfortunately, to make sense of figures you have to examine several different pages of the filing. The elements of the compensation packages are complex and are contained under many different expense headings. If the school is a 501(c)(3) not for profit educational institution, it must file a Form 990 with the IRS annually. The Foundation Center makes these returns available online.
Note: the cash salaries are somewhat misleading as most of these key employees receive significant allowances for housing, meals, transportation, travel and retirement plans apart from their cash salaries. Figure an additional 15-30% for allowances and/or non-cash compensation. The gross amount in many cases exceeds $500,000.
Here's a sampling of headmasters' base salaries ranked from highest to lowest.
Episcopal High School, Alexandria, VA $425,101
Hawken School, Gates Mills, OH $390,207
Milton Academy, Milton, MA $386,720
Rye Country Day School, Rye, NY $365,119
Hackley School, Tarrytown, NY $362,000
President, NAIS, Washington, DC $329,757
Western Reserve Academy, Hudson, OH $329,000
Phillips Academy, Andover, MA $328,826
Phillips Exeter Academy, Exeter, NH $324,005
Deerfield Academy, Deerfield, MA $321,823
Forsyth Country Day School, Lewisville, NC $319,318
Harvard-Westlake School, North Hollywood, CA $313,000
Greensboro Day School, Greensboro, NC $304,158
The Brearley School, New York, NY $300,000
Lancaster Country Day School, Lancaster, PA $299,240
Poly Prep Country Day School, Brooklyn, NY $298,656
Georgetwon Day School, Washington, DC $296,202
Culver Academies, Culver, IN $295,000
St. Mark's School of Texas, Dallas, TX $290,000
Hathaway Brown School, Shaker Heights, OH $287,113
Madeira School, Maclean, VA $286,847
The Dalton Schools, New York, NY $285,000
Hotchkiss School, Lakeville, CT $283,920
Choate School, Wallingford, CT $282,987
Punahou School, Honolulu, HI $274,967
Far Hills Country Day School, Far Hills, NJ $274,300
Groton School, Groton, MA $258,243
North Shore Country Day School, Winnetka, IL $250,000
Avon Old Farms School, Avon, CT $247,743
The Peddie School, Hightstown, NJ $242,314
Kent School, Kent, CT $240,000
Episcopal Academy, Merion, PA $232,743
Cranbrook Schools, Bloomfield Hills, MI $226,600
University School of Milwaukee, Milwaukee, WI $224,400
McCallie School, Chattanooga, TN $223,660
Middlesex School, Concord, MA $223,000
Sidwell Friends School, Washington, DC $220,189
Ransom Everglades School, Miami, FL $220,000
The Masters School, Dobbs Ferry, NY $216,028
Greenwich Country Day School, Greenwich, CT $210,512
Harvey School, Katonah, NY $200,000
St. Paul's School, Concord, NH $186,970
The Hill School, Pottstown, PA $216,100
Taft School, Watertown, CT $216,000
Shore Country Day School, Beverly, MA $206,250
Miami Country Day School, Miami, FL $200,000
Village School, Pacific Palisades, CA $210,000
Lake Forest Country Day School, Lake Forest, IL $188,677
Hillel School of Metropolitan Detroit, Farmington Hills, MI $156,866
Annie Wright School, Tacoma, WA $151,410
Foxcroft School, Middleburg, VA $150,000
Ravenscroft School, Raleigh, NC $143,700
Forman School, Litchfield, CT $142,500
Are Headmasters' Compensation Packages Justifiable?
A good headmaster deserves to be well-paid. The head of a private school must be a top-notch fund raiser, a superb public relations person, a fine administrator and a dynamic community leader. How lucky we are to have talented educators and administrators who lead private schools rather than manage a Fortune 100 enterprise. Many of them could make 5 or 10 or even 20 times as much as they currently do.
Trustees need to review their key employees' compensation packages annually and improve them as much as they can. It's extremely important to attract and retain talented administrators in our private schools. Our children's future depends on it.
Resources
Prep-School Payday
Pay Soars For Headmasters at Mass. Prep Schools
Headmasters' Salaries On The Rise
