And 10x seems like an arbitrary (and large) multiplier. What justifies it? What does the president of a University do that adds that much value to a University? I remember ours made over $300k and all he did was go to parties thrown by wealthy Alums, give public speeches, and otherwise be a politician at council meetings.
By comparison, entry level IT there was $30k, "programming" was $40-50k, and senior in either was capped at $55k essentially. And IIRC, the professor salaries were similarly pathetic. I never understood how a public University justifies paying an administrator (something like a glorified answering machine that can make Excel spreadsheets) double what it pays someone who builds and maintains the infrastructure the school needs to function. Especially when the latter often must wear 10+ hats and train themselves on their own time just so they can do the job adequately.