Among his peers, outgoing Wilmington University president's $5.5M salary was highest in country - Technical.ly Delaware

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Dec. 6, 2016 12:56 pm

Among his peers, outgoing Wilmington University president’s $5.5M salary was highest in country

Jack Varsalona got a salary bump in one of his last years at the university thanks to a “one-time payment under the retention and retirement plan” when he turned 65.

(Stock image)

Earlier this year, Wilmington University announced the retirement of current president Dr. Jack Varsalona and the ushering in of its historic appointment of a first Black woman president, Dr. LaVerne Harmon. What we didn’t tell you is that in 2014-2015, Varsalona was the highest-paid college president in the country.

He made nearly $5.5. million, due in part to a “one-time payment under the retention and retirement plan” when Varsalona turned 65, Wilmington University spokesman Joseph Aviola told the Inquirer.

Varsalona’s salary was reported in the Chronicle of Higher Education’s annual review of presidents’ compsensation and subsequently in a the Philadephia Inquirer story.

Aviola wouldn’t tell the Inquirer what Harmon would collect this year.

The compensation is on par with Ivy league schools, according to The Inquirer.

WilmU, which is backed by Irénée DuPont and others notable Delawareans, recently partnered with NextFab to facilitate their expansion to downtown Wilmington, in addition to supporting operations at Zip Code Wilmington to facilitate the receipt of college credit. Two years ago, WilmU opened a 41-acre campus in suburban north Wilmington.

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