Wages Rise For Top Officers

University President Lawrence H. Summers pulled in a 32-percent raise last fiscal year, earning $681,735 in salary and benefits, according to documents filed Monday with the Internal Revenue Service.

Across the University, wages and benefits payments rose sharply. Pension plan contributions more than doubled, and total salaries approached $1 billion.

And at $23.1 billion, Harvard’s net assets at the end of fiscal year 2003 eclipsed the gross domestic products of Bolivia and Oman but remained just short of Paraguay and Turkmenistan.

In an interview yesterday, Summers attributed the bulk of his pay jump to a particularly large subsidy for taxes on his apartment in Washington, D.C. He also received a $50,000 raise in standard compensation, according to the tax documents.

Summers declined yesterday to discuss the details of his salary and would not say whether he was scheduled to receive similar raises on an annual basis.

“I think it’s appropriate for me to have some privacy with respect to what I comment on,” Summers said.

Harvard’s tax return, spanning the fiscal year that began July 1, 2002, provides itemized details of the University’s revenues and expenses. And as a non-profit, tax-exempt organization, Harvard is required to report the salaries of its top officers and trustees.

In a separate document filed Monday with the Massachusetts Office of the Attorney General, Harvard also disclosed the salaries of its five highest-paid employees.

TOP EARNERS

Provost Steven E. Hyman earned $409,698 in his first full year as Harvard’s second-ranking administrator, but his salary was eclipsed by at least four of his colleagues.

At Harvard Medical School, Mary F. Campion, former dean for resource development, pulled in $473,216. Campion’s salary bested that of her boss, Dean Joseph B. Martin, who earned $461,227.

Also topping his boss’ compensation, Richard H.K. Vietor, senior associate dean at Harvard Business School, took in $454,966, which beat out Dean Kim B. Clark ’74, whose salary was not listed among Harvard’s top five.

Leading Harvard’s vice presidents in compensation was former Vice President and General Counsel Anne Taylor. Though she worked just two months in fiscal year 2003, she earned $357,704, largely in severance pay.

Her successor, Robert W. Iuliano, pulled in $327,272 for 10 months of work.

Thomas M. Reardon, former vice president for alumni affairs and development, received $342,137. Massachusetts anti-nepotism laws also required the University to release the salary of his brother, John P. Reardon, Jr., executive director of the Harvard Alumni Association, who made $233,362.

Sally H. Zeckhauser, vice president for administration, and her husband, Ramsey Professor of Political Economy Richard J. Zeckhauser, earned $319,359 and $243,048, respectively.

Former Vice President for Finance Elizabeth C. “Beppie” Huidekoper, who resigned in October 2002, received $121,442 for just over three months of work. Ann E. Berman, who succeeded Huidekoper, earned $262,235.

Alan J. Stone, vice president for government, community and public affairs, received $315,846 in compensation. He was also granted a 30-year mortgage loan of $258,000 at zero-percent interest.

Harvard has previously offered loans, often at no interest, to its top administrators.

Thomas M. Reardon received a 10-year, zero-interest education loan of $306,312 in January 2002. And though Taylor no longer works at the University, she still owed Harvard the bulk of two small education loans totaling $25,000 at interest rates of 10 and 8.25 percent.

Summers, whose University-owned home on Elmwood Avenue is not counted as part of his compensation, received $500,112 in standard compensation, $29,285 in benefits and $152,338 in other income, which included a $139,547 housing subsidy.

The salaries of Harvard’s top administrators totaled $3,331,084 in fiscal year 2003, a jump of 39 percent, but they paled in comparison to the earnings of top fund managers at the Harvard Management Company, the organization which invests the University’s $19.3-billion endowment.

Marcus Samuels, senior vice president for international fixed income, pulled in $35,130,990, followed closely by David R. Mittelman, senior vice president for fixed income, who earned $34,072,169. All told, Harvard’s top six fund managers totaled over $100 million in compensation.

Those salaries, announced in January, were comprised largely of performance-based bonuses, which soared after an exceptionally lucrative year for the endowment.

In the wake of criticism of the fund-manager salaries, the management company board voted to lower the cap on maximum compensation.

—Staff writer Zachary M. Seward can be reached at seward@fas.harvard.edu.