Executive Compensation at Columbia (2022)

2022 was a record year for Columbia University (Columbia) and many of its employees with total revenue reaching an all time high:  $7.1 billion while expenses totaled $5.6 billion (not including $329 in depreciation).  Although the university’s expenses were more than $1 billion less than total revenue, $2.3 billion in net unrealized losses on investments (2022 was not a great year in the market) caused net assets to decline from $19.6 billion to $18.4 billion at year-end.

In terms of compensation, 37,144 employees were compensated $3.6 billion, which equates to an average compensation of $79,000. The 20 most highly compensated individuals (listed below) received $39 million which equates to an average compensation package of nearly $2 million each:

• $6,534,183:  Lawrence Gerald Lenke, Professor of Surgery
• $3,995,010:  David N Silvers, Clinical Professor
• $3,879,804:  Lee C Bollinger, President
• $3,556,633:  Ronald Arthur Lehman, Jr, Professor of Surgery
• $3,001,726:  Craig Smith, Professor of Surgery
• $2,854,931:  Emile Bacha, Professor of Surgery
• $2,688,804:  Peter Holland, Former CEO and EVP Investment Management
• $2,588,466:  Kim Lew, CEO of IMC
• $1,270,377:  Lee Goldman, Former EVP Health Sciences
• $1,093,051:  Antil Rustgi, Int EVP Sci (thru 2/28/22)
• $  938,210:  Gerald M Rosberg, Sr EVP
• $  884,755:  Anne R Sullivan, EVP Finance and IT
• $  864,364:  Mary Boyce, Provost (as of 7/21)
• $  860,804:  Jane E Booth, General Counsel
• $  844,981:  Amelia Alverson, EVP University Development and Alumni Relations
• $  822,811:  Ira Katznelson, Int Provost (thru 6/30/21)
• $  805,561:  John Coatsworth, Former Provost
• $  749,601:  Amy Hungerford, EVP, A&S
• $  622,659:  David Greenberg, EVP Facilities
• $  503,468:  Jerome Davis, Secretary

Of the 20 most highly compensated individuals, 13 (or 65%) were men, while 7 (or 35%) were women, which is an improvement over 2016 when 80% of the most highly compensated individuals were men.  Of the 10 most highly compensated individuals, 8 (or 80%) are men, while 2 are women, which is, again an improvement since 2016 when the top 10 most highly compensated individuals were men.

The 10 most highly compensated employees received $160 million from 2017-2022 (note: employees in the top ten list from 2017-2021 are not included if not part of the 2022 list):

Peter Holland:  Total Compensation 2017-2022:  $32 million

• 2022: $2,688,804
• 2021:  $4,287,703
• 2020:  $5,459,992
• 2019:  $6,175,706
• 2018:  $6,523,075
• 2017: $6,709,425

David Silvers:  Total Compensation 2017-2022:  $25 milli0n

• 2022: $3,995,010
• 2021:  $3,832,982
• 2020:  $4,429,241
• 2019:  $4,051,351
• 2018:  $4,225,843
• 2017: $4,691,626

Lawrence Gerald Lenke:  Total Compensation 2017-2022:  $33.5 million

• 2022: $6,534,183
• 2021:  $7,093,838
• 2020:  $6,914,607
• 2019:  $4,798,221
• 2018:  $4,119,478
• 2017:  $4,057,479

Lee C Bollinger:  Total Compensation 2017-2022:  $20 million

• 2022: $3,879,804
• 2021:  $2,443,890
• 2020:  $2,756,502
• 2019:  $4,560,689
• 2018:  $2,648,682
• 2017:  $3,955,161

Ronald Arthur Lehman:  Total Compensation 2018-2022:  $16 million

• 2022: $3,556,633
• 2021:  $3,553,813
• 2020: $3,549,044
• 2019:  $3,174,297
• 2018:  $2,455,483

Craig Smith:  Total Compensation 2018-2022::  $11.5 million

• 2022: $3,001,726
• 2021:  Not Listed
• 2020:  $2,918,957
• 2019:  $2,809,223
• 2018:  $2,538,912

Emile Bacha:  Total Compensation 2022:  $3 million

• 2022: $2,854,931

Kim Lew:  Total Compensation 2021-2022:  $4 million

• 2022: $2,588,466
• 2021:  $1,633,257

Lee Goldman:  Total Compensation 2017-2022:  $13 million

• 2022: $1,270,377
• 2021:  $1,784,505
• 2020: $4,143,084
• 2019:  $1,970.501
• 2018:  $1,930,675
• 2017: $2,127,254

Anil Rustig:  Total Compensation 2017-2022:  $2 million

• 2022: $1,093,051
• 2021:  $1,099,820

The IRS Form 990 reports Columbia pays for first class or charter travel, travel for companions, housing allowance or residence for personal use (which is traditionally provided for key staff on a college campus), personal services (i.e. maid, chauffeur, chef) – which is also traditionally provided for key staff on college campus), and tax indemnification and gross up payments. For comments provided by Columbia on these benefits, go to the IRS Form 990, Schedule J, Part III.

To read the IRS Form 990 for the year ending June 30, 2022, click here.