On page 43 of Suffolk University’s 2009 IRS Form 990, you will see that university president and “professor of law” David J. Sargent made $832,782 in TOTAL COMPENSATION for 2008. Yes, that is one premium salary, isn’t it?
On page 45, the breakdown is as follows: $463,479 in base compensation; $89,816 in bonus and incentive compensation; $47,173 in other compensation; $211,136 in deferred compensation; and $21,178 in non-taxable benefits.
“Sargent's compensation in 2006-2007 totaled $2.8 million, according to The Chronicle of Higher Education's annual survey, released today.” [Emphasis mine]
The article goes on:
“Sargent, 77, has worked at the Beacon Hill university since 1956, the last 19 years as president. He will earn a $1.1 million bonus for never taking a sabbatical over that time.”
To confirm this amount, we go to Suffolk’s 2007 Form 990. We see on page 38 that David Sargent made $2,818,456 in TOTAL COMPENSATION for 2006. Yes, TWO MILLION, EIGHT HUNDRED AND EIGHTEEN THOUSAND, FOUR HUNDRED AND FIFTY-SIX DOLLARS in total, for one solitary school year. He made $872,000 in compensation; $1,928,461 in contributions to employee benefit plans & deferred compensation; plus $17,995 in expense account and other allowances – apparently, because he needed “other allowances.”
On page 18 of the school’s 2008 Form 990, we see that David Sargent only made $1,521,928 in TOTAL COMPENSATION for 2007. This little piggy made $972,280 in compensation; $524,313 in contributions to employee benefit plans & deferred compensation plans; and $25,335 in expense account and other allowances – for this year.
It looks as if David graduated from $uffolk’s sewer of law in 1954, and returned in 1956 to “teach law.”
“He returned as an adjunct professor in 1956 and soon became a full professor. From 1972 to 1989, Sargent directed the Law School as dean. Sargent assumed the university presidency in 1989. The Sargent building (1999) which houses Suffolk University Law School is named after him.”
Look at how this reads like a press release/paid advertisement from the school:
“In its November 17, 2008 compensation survey, The Chronicle of Higher Education listed Sargent as the highest paid college or university president in the United States. They mistakenly claimed that Sargent's compensation in 2006-2007 totaled $2.8 million, however, this was a one time check made to his retirement account. Sargent's compensation is roughly on par with most other college presidents, about $400,000 per year.” [Emphasis mine]
The poor "educator" had his total compensation mistakenly reported, huh?!?! Well, this same entry goes on to state that this was a one time made to his retirement account. Apparently, he received, or will receive, the funds in question – but whoever wrote the Wikipedia entry is more interested in playing semantics.
In the last analysis, this man is truly an academic, in every sense of the word. He starting teaching in the law school two years after graduating from the institution. He then “served” as dean of the law school from 1972 to 1989, whereupon he was named president of the university. He has been in this position ever since, and his current contract expires in 2013. The man is now in his early eighties. Apparently, this school does not have a policy on retirement age for faculty members or administrators. After all, most people start slipping mentally in their mid-70s, if not sooner.
Furthermore, Suffolk JDs will continue to be pummeled by their counterparts from Harvard, Boston University and Boston College - in terms of “prestige” and meaningful job offers. Yet, the sewer of law still sees fit to charge its full-time students $41,100 in annual tuition.
We see recent attorneys who are selling cupcakes out of a truck , people who are licensed to practice law in New York and Connecticut making $7.50 an hour at Radio Shack, and lawyers serving lattes - also for $7.50 an hour. And, yet, “educators” and “professors” such as David Sargent - who are DIRECTLY CONTRIBUTING to JD overproduction - can rake in HUGE sums of money annually.