[media-credit name=”Kristen Riello” align=”alignnone” width=”500″][/media-credit]

President John Lahey made about $2.5 million less in 2013 than he did in 2012 when he had to report the full amount on his retirement plan, according to the university’s tax records. But he still raked in more than $1 million.

Lahey’s total compensation in 2013 was $1,274,279, while it was $3,759,076 in 2012. In 2012, Lahey became “fully vested” in his retirement plan, which is why his compensation that year was reported as more than $3.7 million, Vice President for Public Affairs Lynn Bushnell said in a statement. These earnings in 2012 had made Lahey the second-highest paid college president that year.

The 2013 compensation is an increase from 2011, however, when Lahey made $1,203,709.

His 2013 compensation is equal to about 22 students paying full tuition and room and board this academic year.

Bushnell said in a statement that the university looks at what other comparable colleges pay their administrators to determine how much Lahey and other executives should earn.

“The university adheres to the highest standards of corporate governance in establishing executive compensation for all senior-level officers. Compensation levels are set by the personnel committee of the Board of Trustees and are determined after reviewing compensation levels at comparable institutions,” she said. “An independent compensation firm validates the list of appropriate peer institutions. The personnel committee sets salaries with an eye to attracting and retaining highly qualified and highly motivated executives, based on an annual review of agreed upon goals.”

Lahey earned more than Wesleyan University President Michael Roth ($926,183), Yale University President Peter Salovey ($801,020), Yale’s former President Richard Levin ($1,149,007), University of New Haven President Steven Kaplan ($707,353) and Fairfield University President Jeffrey P. von Arx ($379,400), according to tax records from each of these colleges.

Freshman physical therapy major Emma Varco said she would have thought Lahey made about $100,000 a year. He should be making less than $1.2 million, she said.

“I feel like it’s not fair because that money could be going toward something else, maybe to help the campus as a whole as opposed to just all going in his bank account,” she said.

But senior health science major Melissa Griffith said the amount Lahey makes is not surprising, given what CEOs make. Top CEOs make about $16,300,000, which is 300 times more than the average worker, according to Forbes.

And Lahey has worked for his money too, Griffith said.

“It’s not like he’s just getting the money and the school isn’t growing and expanding,” she said. “I mean, look what’s happening at North Haven, all the purchases they’ve made in North Haven, so it’s not wasted money. I think it’s earned.”

Plus, Lahey is, in Griffith’s words, “awesome.”

“He’s just a cool guy,” she said. “Every time I see him I’m like, ‘Oh my God, it’s Lahey.’ He comes to the hockey games and he’ll take pictures with you. He’s a really cool president. When I studied abroad, I didn’t even know who my president was at that university in Australia, so to know our own president at our university is pretty cool. And he’ll come out on the Quad during nice days and come say hi. He’s really personable.”

Quinnipiac’s next top-earner in 2013 was Executive Vice President and Provost Mark Thompson with $631,127. This is less than half of what Lahey made.

Thompson’s compensation is followed by now retired Senior Vice President for Finance Patrick Healy ($612,991), men’s basketball head coach Tom Moore ($498,884), Vice President for Development and Alumni Affairs Donald Weinbach ($484,899), Dean of the School of Medicine Bruce Koeppen ($473,713) and Vice President for Admissions and Financial Aid Joan Isaac Mohr ($432,220).

The administrators’ compensations for 2013 are the latest that are publicly available.