With its $8.5 billion endowment, Dartmouth College has the means to pay its employees lavishly. It should not come as a surprise that the Ivy League school is willing to spend a pretty penny on the most valuable members of its community, but just who Dartmouth considers to be worthy of high compensation might be surprising. Let’s take a look at the 21 most highly paid employees and officers at Dartmouth, according to 2022 tax returns assembled by ProPublica.

Dartmouth’s Top Employee Salaries by the Numbers

Dartmouth Employees and Officers	Rank	Compensation
Alice Ruth (Chief Executive Officer Investment Office)	1	$4,200,901
Kelsey Morgan (Chief Investment Officer)	2	$1,760,273
Harry Sheehy (Director Of Athletics)	3	$1,721,936
Philip Hanlon (President And Trustee Ex Officio)	4	$1,403,418
Michael Sullivan (Managing Director, Investment Office)	5	$1,125,311
Jessica Jones (Managing Director, Investment Office)	6	$995,467
Matthew Slaughter (Dean, Tuck School Of Business)	7	$902,896
Steven Leach (Director, Norris Cotton Cancer Center)	8	$896,101
Duane Compton (Dean, Geisel School Of Medicine)	9	$864,694
Richard Mills (Executive Vice President)	10	$756,750
Robert Lasher (Sr. Vice President For Advancement)	11	$742,514
Sandhya Iyer (General Counsel)	12	$599,727
Joseph Helble (Former Provost)	13	$519,462
Elizabeth Smith (Dean Of Faculty)	14	$514,572
David Kotz (Provost)	15	$512,252
Michael Mastanduno (Former Dean Of Faculty)	16	$393,796
Joshua Keniston (VP Campus Services & Institutional Projects)	17	$383,816
Michael Wagner (VP & CFO (Through August 2021))	18	$376,340
Carolyn Dever (Former Provost)	19	$331,056
Robert S Frew (CFO (From April 2022))	20	$250,010
Frank Roberts (Associate VP, FOM)	21	$221,145

Who Has the Highest Salary at Dartmouth College?

Coming in first, the most highly paid Dartmouth employee or officer is. . . not the president. Are you shocked? It’s not that the institution doesn’t value Philip Hanlon (remember, Sian Beilock didn’t assume the office until 2023, and the most recent published data is from 2022). He was still the fourth-highest paid employee on this list, making $1.4 million from the position in 2022. But there were three individuals in 2022 who were just a little bit more important to Dartmouth than President Hanlon. 

Alice Ruth, the CEO of Dartmouth’s Investment Office, raked in a whopping $4.2 million in 2022. This makes sense, right? The person tasked with growing Dartmouth’s immense endowment, itself responsible for institutional longevity and Dartmouth’s financial accessibility to low-income students, should be well compensated. The same goes for Kelsey Morgan, Dartmouth’s Chief Investment Officer, who made nearly $1.8 million in 2022.

Perhaps the most surprising name on this list is Harry Sheehy, Dartmouth’s Director of Athletics, the only non-Investment Office employee on this list to out-earn the president. Mr. Sheehy made an impressive $1.7 million in 2022, which reflects the hefty premium Dartmouth places on athletics. Those familiar with the Ivy League athletic recruiting process, in which student-athletes are held to a lower standard than their non-athlete peers when applying to schools like Dartmouth, might not be shocked that Dartmouth’s institutional priorities are set up in this way.

How Has Employee Compensation Changed at Dartmouth?

Ten years ago, Ivy Coach reported that Dartmouth’s list of top salaried employees included many names from the Tuck School of Business. As this list indicates, this is no longer the case. Only Matthew Slaughter, Dean of Tuck, made it on the list in 2022, clocking in with a respectable salary of roughly $900,000. It just goes to show that the employee compensation at elite colleges is incredibly dynamic. No two fiscal years are alike, which reflects ever-shifting institutional priorities. 

However, one thing is for certain: Dartmouth tends to pay its employees more and more each year. The people in the Investment Office must be doing their jobs right (hence their lucrative salaries!). As Dartmouth’s endowment grows with each year, so too do the pockets of its employees!