The President of the United States is one of the most powerful people in the world, with responsibilities that include leading the country, making critical decisions, and representing the nation on the international stage. But how much does the President make? While it's true that the President's salary is modest, there are other perks that go along with the job. In this article, we will explore the compensation of the U.S. President and compare it to other leaders in different sectors.
The annual salary awarded to the President of the United States is $400,000. But, as we will explore shortly, this hasn't always been the case. In fact, the first President, George Washington, refused to accept a salary and instead asked that his expenses be covered. It wasn't until 1873 that the President's salary was set at $50,000, and it has been adjusted several times since then to account for inflation and other factors.
While compensation for the U.S. President is very generous, most people who run for the job don't do it to get rich. So how much does the President make compared to other leaders in different sectors? For example, the CEO of a large corporation can make millions of dollars in salary, bonuses, and benefits. According to a report by The Chronicle of Higher Education, the base pay, bonuses, and benefits for 265 chief executives at private colleges with expenditures of $100-million or more averaged $570,000 in 2017.
In contrast, Cindy Parlow Cone's U.S. Soccer presidency is an unpaid, supposedly 'volunteer' position. This means that she does not receive any salary or compensation for her work as the president of the organization. Similarly, the former education commissioner in New York State will earn significantly more than presidents at larger institutions, despite no longer being in a presidential role.
In terms of public sector compensation, the President's salary is relatively modest. For example, the president of the California State University system will receive at least a 7% salary increase starting this month, bringing their salary to $480,000 per year. However, it's important to note that the President of the United States has access to many other benefits and perks that are not available to other leaders, including a $50,000 expense account, a $100,000 travel account, and use of a fleet of aircraft, helicopters, and limousines.
Another important factor to consider is the role that the President plays in national security and foreign policy. As the Commander-in-Chief of the Armed Forces, the President has access to classified information and must make critical decisions that affect the safety and security of the nation. This is a responsibility that comes with a high level of stress and requires a significant amount of time and energy.
In conclusion, while the President of the United States may not make as much money as other leaders in different sectors, the job comes with many other benefits and responsibilities. The $400,000 salary is just one small part of the compensation package, which includes access to a wide range of resources and support staff. Ultimately, the President's salary is just one factor to consider when evaluating the compensation of this important public servant.
