First posted: 3:37 a.m. CST
Last updated: 2:29 p.m. CST

Northwestern President Henry Bienen received twice as much compensation for the 2006-07 school year as the year before, according to a new report from the Chronicle for Higher Education.

Bienen received $1,742,560 for the 06-07 school year, according to the report, making him the third highest-paid president of a private university, behind David J. Sargent of Suffolk University and E. Gordon Gee of Vanderbilt University. Close to one-fourth of his compensation package, however, was deferred to a later date.

Bienen received $814,572 for the 2005-06 school year, according to the report. For the 2004-05 year, he received $774,004.

Bienen’s 06-07 pay does include $590,929 in deferred compensation. His benefits package — which is approximately one-quarter of his total compensation — includes $375,000 in deferred compensation that is subject to forfeiture if Bienen is not under university employment as of August 31, 2009 — his scheduled retirement date.

More to come.