Growth Trends for Related Jobs
College vice presidents help college presidents make sure that educational facilities run smoothly. Whereas the president is responsible for the wider vision of a school's future, the vice president runs day-to-day activities, such as maintaining facilities and overseeing the school's various departments. Postsecondary administrators such as college vice presidents typically have a background in education, may have taught at the college level for years and often hold a degree related to business or educational administration.
Pay for Postsecondary Administrators
According to the U.S. Bureau of Labor Statistics, postsecondary administrators earned an average salary of $99,370 per year as of 2012, with 75 percent reporting salaries of $119,890 or less and 10 percent reporting salaries of $168,330 or more. But this figure takes into account wages for lower-paid administrators such as provosts, deans and directors of university departments. In reality, college vice presidents tend to earn toward the high end of the postsecondary administration pay scale.
Pay for Vice Presidents
As of the 2012-2013 school year, the College and University Professional Association for Human Resources reports that college and university vice presidents earned a median salary of $187,039 per year. Those at the helm of institutions awarding primarily two-year and four-year degrees earned a median annual salary of about $154,000. Vice presidents of institutions granting primarily master's degrees reported a median salary of $178,515 per year, while those employed by colleges and universities primarily awarding doctorates reported a high median salary of $312,682 per year.
College Vice-President Benefits
In addition to relatively high salaries, most college vice presidents enjoy benefit packages that include medical and dental health insurance and access to a pension or retirement plan. But some college vice presidents also receive some form of additional executive benefits. According to the College and University Professional Association for Human Resources, 16 percent of all college vice presidents had a car either wholly or partially paid for by their employer. For nearly 4 percent of vice presidents, the same was true of housing.
The Bureau of Labor Statistics estimates that the number of jobs in the United States will increase by about 14 percent through 2020. By comparison, it predicts that jobs for postsecondary education administrators will grow at a somewhat faster rate of 19 percent. The large number of postsecondary administrators set to retire during the decade will create additional openings. Still, aspiring vice presidents should expect strong competition for these high-paying jobs.