2010 Top Salaries at MIT

Jun. 8, 2012

		2010 Base	2010 Paid	2010 Total	2009 to 2010	2008 to 2009
Name	Title	Compensation	Compensation	Compensation	%	∆	%	∆
Seth Alexander	MITIMCO President	$522,426	$1,260,427	$1,316,463 †	+20%	$214,794	+18%	$158,807
Susan J. Hockfield	President	$652,129	$832,629	$1,006,969 *	+5%	$75,366	+1%	$4,536
David C. Schmittlein	Dean of Sloan School	$578,317	$716,442	$761,621	-0%	-$2,281	-6%	-$47,628
Nelson Repenning	Professor, Sloan School	$103,127	$670,880	$714,284 ‡	-8%	-$38,911	+3%	$22,686
Daniel Steele	MITIMCO, Private Equity	$304,629	$628,356	$690,825 †	-6%	-$40,088	+21%	$117,737
Steven C. Marsh	MITIMCO, Real Estate	$303,320	$627,047	$688,393 †	-7%	-$44,015	+23%	$124,393
Donald R. Lessard	Professor, Sloan School	$261,185	$606,436	$695,337 ‡	did not meet 2008 reporting threshold
L. Rafael Reif	Provost	$487,168	$556,914	$638,527 *	+5%	$23,730	+3%	$16,457
Theresa M. Stone	Executive Vice President	$493,102	$542,655	$606,665 *	+7%	$35,933	-3%	-$13,363
R. Gregory Morgan	General Counsel	$466,801	$529,601	$597,124	+1%	$6,593	+4%	$20,096
Jeffrey Newton	VP, Resource Dev.	$367,502	$379,465	$445,514	+1%	$4,142	+3%	$10,702
Eric D. Evans	Director, Lincoln Lab	$364,032	$375,472	$432,642	+3%	$16,607	+4%	$14,158
Claude R. Canizares	VP for Research	$291,114	$323,756	$403,078 *	+2%	$1,963	+3%	$8,397
Phillip L. Clay	Chancellor	$275,307	$306,718	$396,717	-0%	$9,038	-6%	-$18,285
Eric L. Grimson	EECS Dept. Head	$229,029	$249,827	$319,843	did not meet 2008 reporting threshold
Kirk D. Kolenbrander	Corp. Secretary	$231,784	$231,784	$292,145	+2%	$6,694	+12%	$24,705
John S. Reed	Corp. Chairman	$142,783	$142,783	$176,633 §	did not meet 2008 reporting threshold
Dana G. Mead	Corp. Chairman	$122,685	$122,821	$122,821 §	-50%	-$179,749	-2%	-$4,586

This data is for calendar year 2010, from Jan. 1, 2010 through Dec. 31, 2010, and comes from MIT’s IRS Form 990, the tax return for non-profits, which was filed May 15, 2012 for tax year 2010.

“Base compensation” is “nondiscretionary payments to a person agreed upon in advance, contingent only on the payee’s performance of agreed-upon services (such as salary or fees),” from column B(i) of Schedule J Part II of the form.

“Paid compensation” is the “reportable compensation from the organization (W-2/1099-MISC)” column from Part VII Section A of the 990. “Total compensation” includes that as well as “retirement and other deferred compensation” and “nontaxable benefits” from column E of Schedule J Part II of the form.

The percentage changes (% columns) are based on paid compensation, but the differences (∆) are based on total compensation.

Form 990 includes compensation to current and former “officers, directors, trustees, and key employees” as well as “the five current highest compensated employees,” of which Donald R. Lessard is the lowest-compensated. Therefore, the list beneath Lessard is not comprehensive.

† MIT Investment Management Company (MITIMCo) employees compensations do not include incentive compensation which “could have increased or decreased depending on the performance of the endowment” and are contingent on continued employment by MIT.

* Four MIT officers served as directors of outside companies and receive substantial fees for doing so. See separate table.

‡ Professors Repenning and Lessard appear because of their participation in the Sloan School of Management’s Executive Education program (see http://mitsloan.mit.edu/execed). Repenning is faculty director of the BP Operations Academy

§ John S. Reed took over as Chairman of the MIT Corporation from Dana G. Mead in July, 2010. Each served for half of a term, and their compensation reflects that.