C. Peter Magrath, the new interim president of Binghamton University, will earn $355,000 this year ‘ $70,000 more than the salary of his predecessor, Lois DeFleur ‘ which makes him the second-highest paid president in the SUNY system.

But the amount is still low compared to other presidents of prominent public universities.

Magrath was appointed by State University of New York Chancellor Nancy Zimpher in May. He took office on July 1 after he was confirmed by the SUNY Board of Trustees to serve as interim president following DeFleur’s announced retirement after nearly 20 years in office as BU president.

His current contract ends in June 2011, though his appointment lasts until the next permanent president is selected.

According to Kathryn Grant Madigan, the chair of the BU Council’s Presidential Search Committee, the president’s salary is negotiated by the chancellor’s office once she makes her official recommendation to the Board of Trustees.

‘DeFleur was among the lowest-paid university presidents, so we knew that, as a matter of simple economic reality, we’d have to see a pay increase in order to attract the caliber of individual who will bring Binghamton to the next level,’ Madigan said.

The salaries of presidents of colleges and universities around the nation vary greatly, with presidents of private institutions often making significantly more than those of public schools.

A report from the Chronicle of Higher Education states that in 2007-08, 23 private colleges paid their presidents over $1 million. Ohio State University was the only public university to do so in 2008-09. According to the report, the median pay for presidents of public institutions for the 2008-09 year was $436,111.

Magrath’s salary will make him the second-highest-paid president in the SUNY system, behind Dr. Samuel Stanley, the president of Stony Brook University, who earns $400,000 per year. George Philip and John Simpson, the presidents of University at Albany and University at Buffalo, are paid annual salaries of $280,000 and $265,000, respectively.

In addition to his salary, Magrath is provided a furnished one-bedroom apartment leased by BU while DeFleur was given a $42,000 housing allowance. He is also entitled to an entertainment allowance and use of a car and driver service, as was DeFleur.

Still, Magrath’s $355,000 salary represents a small percent of Binghamton’s total expenditures, which were approximately $267 million in 2009-2010.

SUNY spokeswoman Casey Vattimo wrote in an e-mail that Magrath’s salary is ‘a reflection of [Binghamton] University’s increasing esteem as well as his experience and previous compensation, aspects that are routinely taken into consideration when presidential salaries are negotiated.’

Magrath has previously been the president or interim president of several universities, including the University of Missouri, the University of Minnesota and BU itself, where he was last president from 1972-74. He also served as president of the National Association of State Universities and Land-Grant Colleges from 1992-2005. He was at West Virginia University most recently as interim president from 2008-09.

Student Association President Jared Kirschenbaum said that he did not believe that Magrath’s higher pay was related to difficulties in obtaining someone to fill the president’s position in the wake of the scandal.

‘There are empirical reasons for paying Magrath more, including his stature as a leading educator in the nation, and prior experience with NCAA Division I athletics,’ Kirschenbaum said. ‘I see the side of the argument that now isn’t the time to be raising the salary the president is paid given the state’s budget crisis, but I think the value is worth it ‘ having a prestigious person as president will increase SUNY’s stature and help grow the University, which are good reasons for raising the job’s incentive.’

Jennifer Jensen, the Harpur College associate dean for Academic Affairs and a professor of political science, was also pleased with the appointment of Magrath.

‘I realize that at first glance President Magrath’s salary might seem high. But we have an interim president who is nationally known for his leadership in higher education and has knowledge of, and experience with, this campus as well,’ Jensen said. ‘This is quite a combination.’