President Amy Gutmann is no longer the highest-paid Penn executive

University of Pennsylvania president Dr. Amy Gutmann made over $3 million in 2013.

It was the year Gutmann completed a seven-year, $4.3 billion fundraising campaign — the largest in university history, aimed at “strengthening the University’s eminent faculty” and making historic endowment additions. For the second year in a row, Gutmann was Penn’s highest-paid employee.

She was also the highest-paid college president in the country.

According to the Chronicle of Philanthropy, which just published its annual review of U.S. college presidents’ pay, that title now belongs to Wilmington University president Jack Varsalona, who reeled in over $5.4 million from the private Delaware college.

Gutmann was compensated over $2.9 million in 2014, making her the fourth highest-paid president in the country and Penn’s second highest-paid executive.

Kind of by a long shot. The university’s highest-paid employee that year was Children’s Hospital of Philadelphia surgeon and surgery professor Thomas L. Spray, who made a total of $8.35 million

That’s a lot of dough, but it doesn’t detract from Gutmann’s successes as the eighth president in Penn’s history.

• In 2014, she helped increase the university’s endowment by $1.8 billion.
• That was followed by a $581.8 million increase in 2015.
• As of this past June, the endowment totaled $10.7 billion.

That’s a six percent increase in endowment value in 2016, growth that persevered through a 1.4 percent investment loss (it was a rough year for returns, at least for Ivy League universities not named Yale).

That level of growth might continue (especially if tax exemptions for college endowments remain untouched). Just last week, Gutmann was awarded a contract extension into 2022, an extension that will make her the longest-serving president in Penn history.